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

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 170,199 shares of the company’s stock in a transaction on Friday, December 13th. The shares were 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $40.14, for a total transaction of $1,348,623.72.
• On Tuesday, December 3rd, Nicolas Jammet sold 41,999 shares of Sweetgreen stock. The stock was 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 shares were 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 stock was sold at an average price of $40.04, for a total value of $670,710.04.

Sweetgreen Trading Down 6.3 %

NYSE SG opened at $33.63 on Thursday. Sweetgreen, Inc. has a 1-year low of $9.66 and a 1-year high of $45.12. The company has a 50 day moving average of $38.25 and a 200-day moving average of $33.50. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -43.11 and a beta of 2.32.

Institutional Investors Weigh In On Sweetgreen

A number of large investors have recently bought and sold shares of SG. Hollencrest Capital Management bought a new stake in Sweetgreen during the 3rd quarter worth about $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen in the second quarter worth about $76,000. KBC Group NV lifted its position in shares of Sweetgreen by 29.1% during 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 in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Sweetgreen during the third quarter valued at approximately $155,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Sweetgreen in the third quarter valued at approximately $177,000. 95.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. Oppenheimer increased their price objective 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. TD Cowen reiterated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. Finally, UBS Group raised their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.80.

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.