Sweetgreen (NYSE:SG) COO Jason Miles Cochran Sells 4,809 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) COO Jason Miles Cochran sold 4,809 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $29,863.89. Following the transaction, the chief operating officer directly owned 207,076 shares in the company, valued at approximately $1,285,941.96. This represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sweetgreen Stock Down 0.7%

Shares of SG opened at $5.84 on Wednesday. Sweetgreen, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $10.63. The company’s fifty day moving average is $7.36 and its two-hundred day moving average is $6.79. The firm has a market cap of $695.20 million, a PE ratio of 58.41 and a beta of 2.20.

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

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP lifted its holdings in Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after buying an additional 3,667,306 shares in the last quarter. Woodson Capital Management LP grew its stake in shares of Sweetgreen by 152.6% during the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after acquiring an additional 3,625,000 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Sweetgreen by 366.8% during the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock valued at $17,900,000 after acquiring an additional 2,080,628 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Sweetgreen by 240.9% during the third quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock worth $13,509,000 after acquiring an additional 1,196,222 shares during the last quarter. Finally, Ibex Investors LLC increased its position in shares of Sweetgreen by 5,058.7% during the fourth quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock worth $5,580,000 after acquiring an additional 809,400 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SG shares. JPMorgan Chase & Co. raised Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $13.00 in a research note on Friday, May 22nd. KeyCorp restated a “sector weight” rating on shares of Sweetgreen in a report on Monday, August 10th. UBS Group upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating 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 research report on Sunday. Finally, Oppenheimer decreased their price objective on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating for the company in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.10.

About Sweetgreen

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.