Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells 9,250 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) insider Nathaniel Ru sold 9,250 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the sale, the insider now owns 1,952,129 shares in the company, valued at $56,104,187.46. The transaction was disclosed in a filing with the SEC, which is available through this link.

Sweetgreen Stock Performance

Shares of SG traded up $1.87 during mid-day trading on Wednesday, reaching $32.21. The stock had a trading volume of 4,018,797 shares, compared to its average volume of 3,675,126. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $38.53. The business has a fifty day moving average of $29.12 and a 200 day moving average of $26.84.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. Sweetgreen’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.20) EPS. Equities analysts forecast that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SG shares. Citigroup lifted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. UBS Group lifted their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Oppenheimer lifted their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Sweetgreen in a report on Thursday, June 13th. They issued a “buy” rating and a $39.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.20.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of Sweetgreen in the 2nd quarter valued at about $76,000. Versor Investments LP purchased a new position in Sweetgreen during the 2nd quarter worth approximately $217,000. Perigon Wealth Management LLC purchased a new position in Sweetgreen during the 1st quarter worth approximately $223,000. Thoroughbred Financial Services LLC purchased a new position in Sweetgreen during the 2nd quarter worth approximately $233,000. Finally, Nkcfo LLC purchased a new position in shares of Sweetgreen during the 2nd quarter valued at approximately $241,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

About Sweetgreen

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.