Sweetgreen (NYSE:SG) CFO Jamie Mcconnell Sells 4,000 Shares of Company Stock

Sweetgreen, Inc. (NYSE:SG) CFO Jamie McConnell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $13.76, for a total transaction of $55,040.00. Following the sale, the chief financial officer owned 206,489 shares in the company, valued at $2,841,288.64. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

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

Sweetgreen Trading Down 0.9%

SG opened at $13.24 on Wednesday. The firm has a market cap of $1.58 billion, a P/E ratio of 88.27 and a beta of 2.11. Sweetgreen, Inc. has a 12 month low of $4.49 and a 12 month high of $13.89. The stock has a 50-day moving average of $9.18 and a 200 day moving average of $7.37.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). Sweetgreen had a negative return on equity of 31.19% and a net margin of 2.78%. The company had revenue of $176.02 million for the quarter, compared to analysts’ expectations of $170.07 million. During the same period in the previous year, the firm posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Sweetgreen, Inc. will post -1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SG has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Sweetgreen in a report on Wednesday, November 4th. Citigroup boosted their price objective on shares of Sweetgreen from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, November 6th. UBS Group boosted their price objective on shares of Sweetgreen from $6.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, October 28th. Morgan Stanley increased their target price on shares of Sweetgreen from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Finally, Oppenheimer lifted their price target on shares of Sweetgreen from $8.50 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Sweetgreen presently has an average rating of “Hold” and an average target price of $9.88.

Institutional Trading of Sweetgreen

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ibex Investors LLC grew its holdings in shares of Sweetgreen by 5.8% in the third quarter. Ibex Investors LLC now owns 1,188,000 shares of the company’s stock worth $10,538,000 after purchasing an additional 65,000 shares during the last quarter. Fulcrum Asset Management LLP boosted its position in Sweetgreen by 5,967.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 13,894 shares of the company’s stock valued at $121,000 after buying an additional 13,665 shares during the period. Sterling Capital Management LLC boosted its position in Sweetgreen by 175.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,936 shares of the company’s stock valued at $26,000 after buying an additional 1,869 shares during the period. State of Alaska Department of Revenue purchased a new stake in Sweetgreen in the 3rd quarter valued at about $68,000. Finally, Curated Wealth Partners LLC bought a new position in Sweetgreen in the 3rd quarter worth about $480,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Company Profile

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.