Sweetgreen (NYSE:SG) trading down 6% on internal selling

Shares of Sweetgreen, Inc. (NYSE:SG – Get Free Report ) fell 6% in mid-day trading on Wednesday amid domestic selling activity. The company traded as high as $32.40 and last traded at $32.51. About 1,194,534 shares were traded during trading, down 57% from the average daily volume of 2,774,545 shares. Shares previously closed at $34.59.

Specifically, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicolas Jammet sold 169,767 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,565.59. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at $69,044,434.41. The disclosure for this sale can be found here.

The Wall Street analyst weighs in

A number of brokerages have commented on SG. Citigroup upped their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Goldman Sachs Group began coverage on Sweetgreen in a research report on Thursday, June 13th. They issued a “buy” rating and a $39.00 price target for the company. Oppenheimer upped their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.00, based on data from MarketBeat.

Check out our latest Sweetgreen review

Sweetgreen price performance

The company has a 50-day moving average of $29.01 and a 200-day moving average of $25.64. The company has a market cap of $3.58 billion, a P/E ratio of -33.96 and a beta of 2.30.

Sweetgreen (NYSE:SG – Get Your Free Report ) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. In the same quarter last year, the firm earned ($0.20) earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. Research analysts anticipate that Sweetgreen, Inc. will record -0.75 EPS for the current year.

Institutional investors are weighing in on Sweetgreen

A number of large investors have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Sweetgreen in the second quarter valued at about $76,000. Triumph Capital Management acquired a new stake in Sweetgreen in the fourth quarter valued at approximately $126,000. Handelsbanken Fonder AB purchased a new stake in Sweetgreen in the fourth quarter valued at about $137,000. Versor Investments LP bought a new position in Sweetgreen in the second quarter valued at about $217,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of Sweetgreen in the 1st quarter worth approximately $223,000. Hedge funds and other institutional investors own 95.75% of the company’s shares.

Sweetgreen Company Profile

(Get a free report)

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy food on a large 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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