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

Key Points

• Sweetgreen COO Jason Miles Cochran sold 4,809 shares at an average price of $6.21, generating approximately $29,864. The sale covered tax-withholding obligations tied to vested equity awards, leaving him with 207,076 shares.
• Sweetgreen shares traded down 0.7% to $5.84, well below their 50-day moving average of $7.40. The company’s latest quarterly results missed analyst expectations, with an adjusted loss of $0.22 per share and revenue of $192.66 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $7.10. Institutional investors own 95.75% of the company’s stock.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) COO Jason Miles Cochran sold 4,809 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $29,863.89. Following the completion of the transaction, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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. 3,942,091 shares of the stock were exchanged, compared to its average volume of 5,121,456. The firm's fifty day moving average price is $7.40 and its 200 day moving average price is $6.79. Sweetgreen, Inc. has a 52-week low of $4.49 and a 52-week high of $10.63. The company has a market cap of $695.19 million, a P/E ratio of 58.41 and a beta of 2.20.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The firm had revenue of $192.66 million during the quarter, compared to analysts' expectations of $194.50 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The business's revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.20) EPS. Equities analysts expect that Sweetgreen, Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SG shares. JPMorgan Chase & Co. raised shares of Sweetgreen from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $8.00 to $13.00 in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Sweetgreen from a "strong sell" rating to a "sell" rating in a research report on Sunday. TD Cowen decreased their price target on shares of Sweetgreen from $8.00 to $5.00 and set a "hold" rating on the stock in a research note on Friday, August 7th. BNP Paribas Exane boosted their price target on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an "underperform" rating in a research report on Friday, May 8th. Finally, DA Davidson dropped their price objective on shares of Sweetgreen from $7.00 to $5.50 and set a "neutral" rating for the company in a research note on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Sweetgreen currently has an average rating of "Hold" and a consensus target price of $7.10.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of Sweetgreen by 22.4% during the 1st quarter. Royal Bank of Canada now owns 291,477 shares of the company's stock valued at $7,292,000 after acquiring an additional 53,427 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sweetgreen by 6.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company's stock worth $1,516,000 after purchasing an additional 3,553 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Sweetgreen during the second quarter worth about $197,000. Qube Research & Technologies Ltd purchased a new position in Sweetgreen during the second quarter worth about $538,000. Finally, Frontier Capital Management Co. LLC raised its stake in Sweetgreen by 121.7% during the second quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company's stock worth $10,122,000 after purchasing an additional 373,350 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

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.

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