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

Sweetgreen, Inc. (NYSE:SG – Get Free Report) CFO Jamie Mcconnell sold 15,033 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $93,354.93. Following the sale, the chief financial officer directly owned 210,489 shares of the company’s stock, valued at approximately $1,307,136.69. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sweetgreen Trading Down 0.7%

NYSE SG traded down $0.04 during trading hours on Tuesday, hitting $5.84. The company’s stock had a trading volume of 3,942,091 shares, compared to its average volume of 5,121,456. The company has a market capitalization of $695.19 million, a PE ratio of 58.41 and a beta of 2.20. Sweetgreen, Inc. has a 52 week low of $4.49 and a 52 week high of $10.63. The company’s 50-day simple moving average is $7.40 and its two-hundred day simple moving average is $6.79.

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Sweetgreen (NYSE:SG – Get Free Report) last issued 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). The company had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) earnings per share. Research analysts anticipate that Sweetgreen, Inc. will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in SG. Quantinno Capital Management LP increased its holdings in Sweetgreen by 495.3% during the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock worth $1,006,000 after buying an additional 161,209 shares during the last quarter. Ibex Investors LLC increased its stake in shares of Sweetgreen by 5,058.7% during the 4th quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock worth $5,580,000 after purchasing an additional 809,400 shares during the last quarter. Granahan Investment Management LLC purchased a new stake in shares of Sweetgreen during the 1st quarter worth approximately $1,472,000. MYDA Advisors LLC bought a new stake in shares of Sweetgreen in the 4th quarter worth approximately $676,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Sweetgreen by 35.6% in the 4th quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after purchasing an additional 603,029 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SG shares. Wells Fargo & Company reduced their target price on shares of Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Sunday. Royal Bank Of Canada decreased their price objective on shares of Sweetgreen from $7.00 to $6.50 and set an “outperform” rating for the company in a research note on Friday, August 7th. Citigroup dropped their target price on shares of Sweetgreen from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $13.00 in a research note on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Sweetgreen currently has a consensus rating of “Hold” and an average price target of $7.10.

View Our Latest Stock Analysis on SG

Sweetgreen Company Profile

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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.

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