Jonathan Neman Sells 17,020 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CEO Jonathan Neman sold 17,020 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.08, for a total transaction of $597,061.60. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $67,712,398.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Jonathan Neman also recently made the following trade(s):

• On Monday, September 9th, Jonathan Neman sold 7,400 shares of Sweetgreen stock. The shares were sold at an average price of $28.81, for a total transaction of $213,194.00.
• On Monday, August 26th, Jonathan Neman sold 169,772 shares of Sweetgreen stock. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44.

Sweetgreen Trading Up 1.3 %

NYSE SG opened at $34.18 on Thursday. The company has a fifty day simple moving average of $30.00 and a 200 day simple moving average of $27.61. The company has a market cap of $3.87 billion, a P/E ratio of -36.75 and a beta of 2.32. Sweetgreen, Inc. has a 1 year low of $8.64 and a 1 year high of $38.53.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm 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 quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) earnings per share. Equities research analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Institutional Trading of Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of SG. Charles Schwab Investment Management Inc. grew its position in Sweetgreen by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock worth $8,264,000 after purchasing an additional 15,463 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Sweetgreen by 38.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock worth $19,549,000 after purchasing an additional 476,998 shares during the last quarter. Panagora Asset Management Inc. grew its position in Sweetgreen by 1.0% in the 4th quarter. Panagora Asset Management Inc. now owns 182,254 shares of the company’s stock worth $2,059,000 after purchasing an additional 1,733 shares during the last quarter. Brown Advisory Inc. grew its position in Sweetgreen by 1.9% in the 4th quarter. Brown Advisory Inc. now owns 108,311 shares of the company’s stock worth $1,224,000 after purchasing an additional 1,987 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Sweetgreen by 89.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 27,047 shares of the company’s stock worth $306,000 after purchasing an additional 12,763 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SG. Citigroup upped their price objective 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. Bank of America increased their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Oppenheimer increased their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Finally, Royal Bank of Canada increased their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.20.

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.