Sweetgreen (NYSE:SG) Insider Nicolas Jammet Purchases 4,428 Shares

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet acquired 4,428 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was acquired at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the purchase, the insider directly owned 22,543 shares of the company’s stock, valued at $128,720.53. This trade represents a 24.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sweetgreen Stock Up 6.9%

Shares of NYSE:SG opened at $6.01 on Tuesday. The business has a 50 day moving average price of $6.38 and a 200 day moving average price of $7.06. Sweetgreen, Inc. has a twelve month low of $4.99 and a twelve month high of $27.15. The company has a market cap of $710.81 million, a price-to-earnings ratio of -5.27 and a beta of 1.93.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The business had revenue of $155.19 million during the quarter, compared to analyst estimates of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned ($0.25) EPS. Analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Sweetgreen by 5.8% in the second quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company’s stock valued at $238,000 after purchasing an additional 877 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Sweetgreen by 5.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock worth $345,000 after buying an additional 1,209 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in Sweetgreen by 4.9% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 39,912 shares of the company’s stock valued at $594,000 after buying an additional 1,870 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in Sweetgreen by 312.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after buying an additional 2,127 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after buying an additional 2,349 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Wolfe Research started coverage on shares of Sweetgreen in a report on Monday. They issued a “peer perform” rating for the company. Sanford C. Bernstein set a $7.00 price target on shares of Sweetgreen in a research report on Wednesday, January 7th. The Goldman Sachs Group raised their price target on shares of Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Finally, Oppenheimer dropped their price objective on shares of Sweetgreen from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.22.

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.