Key Points
- CFO Jamie McConnell sold 4,000 Sweetgreen shares at an average price of $13.76, for $55,040. After the sale, he directly owned 206,489 shares, a 1.9% reduction in his stake.
- Sweetgreen reported quarterly revenue of $176.02 million, up 2.1% year over year and above analyst estimates; its loss of $0.26 per share matched consensus.
- Analysts’ consensus rating was “Hold,” with an average price target of $9.88. The stock opened at $13.24, near its reported 12-month high of $13.89.
Sweetgreen, Inc. (NYSE:SG - Get Free Report) CFO Jamie McConnell sold 4,000 shares of Sweetgreen stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $13.76, for a total value of $55,040.00. Following the sale, the chief financial officer directly owned 206,489 shares of the company's stock, valued at approximately $2,841,288.64. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Jamie Mcconnell also recently made the following trade(s):
- On Monday, August 17th, Jamie McConnell sold 15,033 shares of Sweetgreen stock. The stock was sold at an average price of $6.21, for a total value of $93,354.93.
Sweetgreen Trading Down 0.9%
SG opened at $13.24 on Wednesday. Sweetgreen, Inc. has a 12-month low of $4.49 and a 12-month high of $13.89. The business's fifty day simple moving average is $9.18 and its 200-day simple moving average is $7.37. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 88.27 and a beta of 2.11.
Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). Sweetgreen had a negative return on equity of 31.19% and a net margin of 2.78%. The firm had revenue of $176.02 million during the quarter, compared to the consensus estimate of $170.07 million. During the same period in the previous year, the company posted ($0.31) earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Sweetgreen, Inc. will post -1.02 EPS for the current year.
Analyst Upgrades and Downgrades
SG has been the subject of several research reports. Morgan Stanley upped their price target on shares of Sweetgreen from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Citigroup lifted their price objective on shares of Sweetgreen from $13.00 to $15.00 and gave the company a "buy" rating in a report on Friday, November 6th. TD Cowen upped their target price on Sweetgreen from $9.00 to $11.00 and gave the stock a "hold" rating in a report on Friday, November 6th. Wells Fargo & Company increased their target price on Sweetgreen from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Friday, November 6th. Finally, UBS Group lifted their price target on Sweetgreen from $6.50 to $11.00 and gave the company a "neutral" rating in a report on Wednesday, October 28th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.88.
Get Our Latest Analysis on SG
Institutional Investors Weigh In On Sweetgreen
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ibex Investors LLC boosted its stake in Sweetgreen by 5.8% in the third quarter. Ibex Investors LLC now owns 1,188,000 shares of the company's stock valued at $10,538,000 after acquiring an additional 65,000 shares in the last quarter. Fulcrum Asset Management LLP increased its position in shares of Sweetgreen by 5,967.2% during the third quarter. Fulcrum Asset Management LLP now owns 13,894 shares of the company's stock worth $121,000 after purchasing an additional 13,665 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Sweetgreen by 175.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,936 shares of the company's stock valued at $26,000 after purchasing an additional 1,869 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at $68,000. Finally, Curated Wealth Partners LLC acquired a new stake in shares of Sweetgreen in the 3rd quarter worth $480,000. Hedge funds and other institutional investors own 95.75% of the company's stock.
Sweetgreen Company Profile
(
Get Free Report)
Sweetgreen, Inc. is a fast-casual restaurant company that serves salads, grain bowls and other meals made with vegetables, grains and proteins. Its menu includes seasonal offerings, and customers can order in restaurants or through the company's digital channels. Founded in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen began as a single restaurant near Georgetown University in Washington, D.C. The company has since expanded to markets across the United States. Sweetgreen also uses technology in its restaurant operations, including its Infinite Kitchen automated food-preparation system.
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