Insider Selling: Sweetgreen, Inc. (NYSE:SG) Insider Sells 5,372 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $182,916.60. Following the transaction, the insider now directly owns 107,313 shares of the company’s stock, valued at $3,654,007.65. The trade was a 4.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sweetgreen Stock Up 12.0 %

NYSE SG traded up $4.06 on Tuesday, hitting $37.89. The stock had a trading volume of 3,069,451 shares, compared to its average volume of 2,880,745. The company’s 50-day moving average is $36.35 and its two-hundred day moving average is $32.02. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -46.64 and a beta of 2.32. Sweetgreen, Inc. has a one year low of $9.21 and a one year high of $42.77.

Analyst Upgrades and Downgrades

SG has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. TD Cowen reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Monday. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Finally, Citigroup boosted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position in Sweetgreen by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after acquiring an additional 721,740 shares during the period. Vanguard Group Inc. boosted its stake in shares of Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after acquiring an additional 70,395 shares in the last quarter. Wellington Management Group LLP grew its holdings in Sweetgreen by 7.5% during the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after purchasing an additional 236,874 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after purchasing an additional 1,878,216 shares during the last quarter. Finally, State Street Corp increased its position in Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after buying an additional 69,120 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

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.