Sweetgreen (NYSE:SG) CFO Jamie Mcconnell Sells 15,033 Shares

Sweetgreen, Inc. (NYSE:SG) CFO Jamie Mcconnell sold 15,033 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $93,354.93. Following the sale, the chief financial officer owned 210,489 shares in the company, valued at $1,307,136.69. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sweetgreen Price Performance

Shares of SG stock opened at $5.84 on Wednesday. The company’s fifty day simple moving average is $7.36 and its two-hundred day simple moving average is $6.79. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $10.63. The stock has a market capitalization of $695.20 million, a price-to-earnings ratio of 58.41 and a beta of 2.20.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The company had revenue of $192.66 million for the quarter, compared to analysts’ expectations of $194.50 million. During the same quarter in the prior year, the company earned ($0.20) EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Oppenheimer reduced their target price on Sweetgreen from $10.00 to $8.50 and set an “outperform” rating for the company in a report on Friday, August 7th. Wall Street Zen raised shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Sunday. UBS Group upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating in a research report on Friday, August 7th. BNP Paribas Exane upped their price target on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday, May 8th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Sweetgreen in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sweetgreen presently has an average rating of “Hold” and an average price target of $7.10.

Institutional Trading of Sweetgreen

A number of hedge funds have recently made changes to their positions in SG. Larson Financial Group LLC increased its stake in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after acquiring an additional 2,349 shares during the last quarter. Fifth Third Bancorp bought a new stake in Sweetgreen during the first quarter worth about $38,000. CWM LLC boosted its holdings in shares of Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after purchasing an additional 4,984 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Sweetgreen by 281.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after purchasing an additional 5,839 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Sweetgreen by 241.5% during the 2nd quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock valued at $93,000 after purchasing an additional 7,438 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.