Sweetgreen (NYSE:SG) Stock: Insider Jamie Mcconnell Sells 4,000 Shares

Sweetgreen, Inc. (NYSE:SG) CFO Jamie McConnell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $13.76, for a total value of $55,040.00. Following the completion of the sale, the chief financial officer owned 206,489 shares of the company’s stock, valued at approximately $2,841,288.64. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jamie Mcconnell also recently made the following trade(s):

• On Monday, August 17th, Jamie McConnell sold 15,033 shares of Sweetgreen stock. The stock was sold at an average price of $6.21, for a total value of $93,354.93.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $12.89 on Thursday. The business’s 50 day simple moving average is $9.31 and its 200 day simple moving average is $7.40. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $13.89. The company has a market capitalization of $1.53 billion, a P/E ratio of 85.93 and a beta of 2.11.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). The firm had revenue of $176.02 million for the quarter, compared to analyst estimates of $170.07 million. Sweetgreen had a negative return on equity of 31.13% and a net margin of 2.78%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.31) EPS. On average, sell-side analysts anticipate that Sweetgreen, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SG. Wellington Management Group LLP acquired a new stake in shares of Sweetgreen in the 2nd quarter valued at $4,557,000. Bank of New York Mellon Corp bought a new position in shares of Sweetgreen in the 2nd quarter valued at $2,792,000. Granahan Investment Management LLC bought a new position in shares of Sweetgreen in the 1st quarter valued at $1,472,000. Quantinno Capital Management LP increased its stake in shares of Sweetgreen by 495.3% in the 1st quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after purchasing an additional 161,209 shares during the last quarter. Finally, Ibex Investors LLC raised its holdings in shares of Sweetgreen by 5.8% during the 3rd quarter. Ibex Investors LLC now owns 1,188,000 shares of the company’s stock worth $10,538,000 after buying an additional 65,000 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on SG. Oppenheimer raised their price target on Sweetgreen from $8.50 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. TD Cowen boosted their price target on Sweetgreen from $9.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, November 6th. Wells Fargo & Company upped their price objective on shares of Sweetgreen from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. UBS Group increased their price objective on shares of Sweetgreen from $6.50 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. Finally, DA Davidson increased their price objective on shares of Sweetgreen from $5.50 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.88.

About Sweetgreen

Sweetgreen, Inc. is a fast-casual restaurant company that serves salads, grain bowls and other meals made with vegetables, grains and proteins. Its menu includes seasonal offerings, and customers can order in restaurants or through the company’s digital channels. Founded in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen began as a single restaurant near Georgetown University in Washington, D.C. The company has since expanded to markets across the United States. Sweetgreen also uses technology in its restaurant operations, including its Infinite Kitchen automated food-preparation system.