Sweetgreen, Inc. (NYSE:SG) CTO Sells $86,149.80 in Stock

Sweetgreen, Inc. (NYSE:SG) CTO Wouleta Ayele sold 2,748 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.35, for a total transaction of $86,149.80. Following the completion of the sale, the chief technology officer now owns 147,480 shares in the company, valued at $4,623,498. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sweetgreen Trading Down 0.3 %

Shares of SG opened at $31.84 on Thursday. Sweetgreen, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $34.45. The business’s 50-day moving average is $24.75 and its 200-day moving average is $16.14.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The business had revenue of $157.85 million during the quarter, compared to analyst estimates of $152.02 million. Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. Sweetgreen’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. Sell-side analysts predict that Sweetgreen, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on SG. JPMorgan Chase & Co. boosted their price target on shares of Sweetgreen from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Piper Sandler boosted their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Morgan Stanley boosted their price target on shares of Sweetgreen from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. TD Cowen boosted their price target on shares of Sweetgreen from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, William Blair restated an “outperform” rating on shares of Sweetgreen in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Sweetgreen currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently made changes to their positions in SG. PNC Financial Services Group Inc. grew its stake in shares of Sweetgreen by 2.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock valued at $468,000 after buying an additional 830 shares in the last quarter. Forum Financial Management LP boosted its position in Sweetgreen by 12.6% during the third quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after purchasing an additional 1,262 shares during the period. Principal Financial Group Inc. boosted its position in Sweetgreen by 11.7% during the first quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after purchasing an additional 1,337 shares during the period. Swiss National Bank boosted its position in Sweetgreen by 0.9% during the first quarter. Swiss National Bank now owns 176,600 shares of the company’s stock worth $4,461,000 after purchasing an additional 1,500 shares during the period. Finally, ProShare Advisors LLC boosted its position in Sweetgreen by 9.9% during the first quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock worth $444,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Company Profile

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.