Nicolas Jammet Sells 25,000 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $14.20, for a total value of $355,000.00. Following the completion of the transaction, the insider now directly owns 2,100,000 shares of the company’s stock, valued at $29,820,000. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Sweetgreen Price Performance

SG opened at $14.18 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -10.06 and a beta of 1.99. Sweetgreen, Inc. has a 1-year low of $6.10 and a 1-year high of $20.75. The business has a 50 day moving average price of $14.28 and a two-hundred day moving average price of $10.61.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, July 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Sweetgreen had a negative net margin of 30.29% and a negative return on equity of 26.30%. The company had revenue of $152.53 million for the quarter, compared to analyst estimates of $155.99 million. Equities analysts expect that Sweetgreen, Inc. will post -0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley reissued an “equal weight” rating and set a $14.00 price target on shares of Sweetgreen in a research report on Monday, July 31st. Bank of America raised Sweetgreen from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $17.00 in a research report on Thursday, July 6th. TD Cowen dropped their price target on Sweetgreen from $16.00 to $14.00 and set a “market perform” rating for the company in a research report on Friday, July 28th. Finally, Piper Sandler raised Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $19.00 in a research report on Monday, July 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.50.

Institutional Trading of Sweetgreen

Several large investors have recently added to or reduced their stakes in SG. FMR LLC increased its position in Sweetgreen by 0.6% during the first quarter. FMR LLC now owns 14,688,450 shares of the company’s stock worth $115,157,000 after buying an additional 90,170 shares during the last quarter. Baillie Gifford & Co. increased its position in Sweetgreen by 73.5% during the second quarter. Baillie Gifford & Co. now owns 9,102,180 shares of the company’s stock worth $116,690,000 after buying an additional 3,857,115 shares during the last quarter. BlackRock Inc. increased its position in Sweetgreen by 13.2% during the second quarter. BlackRock Inc. now owns 6,217,233 shares of the company’s stock worth $79,705,000 after buying an additional 723,876 shares during the last quarter. State Street Corp increased its position in Sweetgreen by 10.9% during the second quarter. State Street Corp now owns 1,738,795 shares of the company’s stock worth $22,291,000 after buying an additional 171,213 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Sweetgreen by 13.1% during the second quarter. Geode Capital Management LLC now owns 1,674,872 shares of the company’s stock worth $21,472,000 after buying an additional 193,996 shares during the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.