Sweetgreen, Inc. (NYSE:SG) CTO Sells $86,149.80 in Stock

Sweetgreen, Inc. (NYSE:SG - Get Free Report) CTO Wouleta Ayele sold 2,748 shares of Sweetgreen stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $31.35, for a total transaction of $86,149.80. Following the completion of the sale, the chief technology officer now owns 147,480 shares in the company, valued at $4,623,498. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sweetgreen Stock Up 6.5 %

Shares of NYSE:SG traded up $2.07 during midday trading on Monday, hitting $33.82. The stock had a trading volume of 5,648,095 shares, compared to its average volume of 2,553,696. The business's 50-day simple moving average is $24.00 and its 200-day simple moving average is $15.71. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $34.45. The company has a market cap of $3.83 billion, a P/E ratio of -36.12 and a beta of 2.22.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The company had revenue of $157.85 million for the quarter, compared to the consensus estimate of $152.02 million. During the same period last year, the firm earned ($0.29) earnings per share. The company's revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, equities analysts predict that Sweetgreen, Inc. will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Sweetgreen by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 343,549 shares of the company's stock worth $4,037,000 after buying an additional 19,538 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Sweetgreen by 31.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,505 shares of the company's stock worth $570,000 after buying an additional 11,500 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Sweetgreen by 12.6% during the third quarter. Forum Financial Management LP now owns 11,262 shares of the company's stock worth $132,000 after buying an additional 1,262 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Sweetgreen during the third quarter worth $4,839,000. Finally, Versor Investments LP lifted its holdings in shares of Sweetgreen by 138.5% during the third quarter. Versor Investments LP now owns 55,801 shares of the company's stock worth $656,000 after buying an additional 32,401 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on SG. Morgan Stanley lifted their price objective on shares of Sweetgreen from $16.00 to $17.00 and gave the company an "underweight" rating in a report on Friday, May 10th. Royal Bank of Canada lifted their price objective on shares of Sweetgreen from $20.00 to $35.00 and gave the company an "outperform" rating in a report on Friday, May 10th. William Blair reiterated an "outperform" rating on shares of Sweetgreen in a report on Wednesday, May 15th. Piper Sandler raised their target price on shares of Sweetgreen from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. Finally, Oppenheimer raised their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the company an "outperform" rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.75.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.

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