Sweetgreen (NYSE:SG) Stock Price Down 2.1% on Insider Selling

Sweetgreen, Inc. (NYSE:SG) shares traded down 2.1% on Wednesday following insider selling activity. The company traded as low as $42.19 and last traded at $42.34. 114,577 shares traded hands during trading, a decline of 96% from the average session volume of 2,873,467 shares. The stock had previously closed at $43.27.

Specifically, insider Nicolas Jammet sold 14,551 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00. Following the completion of the transaction, the insider now directly owns 1,930,233 shares in the company, valued at $86,860,485. This represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jonathan Neman sold 14,745 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $663,525.00. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $86,860,260. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Julie Bornstein sold 4,464 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total transaction of $187,979.04. Following the completion of the transaction, the director now owns 32,637 shares of the company’s stock, valued at approximately $1,374,344.07. This represents a 12.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

SG has been the topic of several research reports. Bank of America boosted their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Citigroup upped their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. TD Cowen reissued a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. UBS Group increased their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Trading Down 1.9 %

The business’s 50-day moving average is $37.49 and its 200-day moving average is $32.80.

Institutional Trading of Sweetgreen

Several large investors have recently added to or reduced their stakes in SG. Oliver Luxxe Assets LLC bought a new position in shares of Sweetgreen in the third quarter valued at approximately $1,973,000. GLOBALT Investments LLC GA bought a new stake in Sweetgreen during the 3rd quarter worth approximately $591,000. Davidson Kempner Capital Management LP increased its holdings in Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after purchasing an additional 164,600 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in Sweetgreen in the 3rd quarter valued at $3,329,000. Finally, Stephens Investment Management Group LLC boosted its stake in Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after purchasing an additional 547,816 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

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.