Sweetgreen, Inc. (NYSE:SG) Insider Sells $6,421,608.27 in Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the transaction, the insider now owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Nicolas Jammet also recently made the following trade(s):

• On Thursday, December 5th, Nicolas Jammet sold 33,598 shares of Sweetgreen stock. The stock was sold at an average price of $40.14, for a total value of $1,348,623.72.
• On Tuesday, December 3rd, Nicolas Jammet sold 41,999 shares of Sweetgreen stock. The shares were sold at an average price of $38.68, for a total value of $1,624,521.32.
• On Monday, November 25th, Nicolas Jammet sold 14,551 shares of Sweetgreen stock. The stock was sold at an average price of $45.00, for a total value of $654,795.00.
• On Wednesday, November 6th, Nicolas Jammet sold 16,751 shares of Sweetgreen stock. The shares were sold at an average price of $40.04, for a total value of $670,710.04.

Sweetgreen Price Performance

NYSE SG opened at $33.63 on Thursday. Sweetgreen, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The stock’s 50-day moving average is $38.25 and its two-hundred day moving average is $33.50. The firm has a market cap of $3.89 billion, a P/E ratio of -43.11 and a beta of 2.32.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC grew its stake in Sweetgreen by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after buying an additional 314 shares during the last quarter. Evolutionary Tree Capital Management LLC boosted its holdings in Sweetgreen by 0.7% during the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after acquiring an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after purchasing an additional 537 shares during the last quarter. KBC Group NV increased its stake in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the period. Finally, Pier Capital LLC lifted its position in shares of Sweetgreen by 0.3% during the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock worth $10,399,000 after purchasing an additional 761 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analysts Set New Price Targets

SG has been the topic of a number of research analyst reports. TD Cowen reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. KeyCorp started coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, UBS Group upped their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.