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Sweetgreen , Inc. (NYSE:SG) CEO Jonathan Neman recently sold shares of the company’s stock, according to a regulatory filing. On March 10, Neman disposed of 7,400 shares of Class A Common Stock at a weighted average price of $25.05, generating a total of $185,370. The sale comes as Sweetgreen, currently valued at $2.9 billion, has seen its stock rise nearly 8% over the past week, though it remains down about 27% over the last six months, according to InvestingPro data.
The shares were sold as part of a prearranged trading plan, known as a 10b5-1 plan, which was established on June 10, 2024. Following this transaction, Neman holds significant equity in Sweetgreen both directly and indirectly through various trusts. With the stock showing high volatility and trading above its InvestingPro Fair Value, investors seeking deeper insights into insider transactions and comprehensive financial analysis can access detailed reports through InvestingPro’s extensive research platform.
Additionally, the filing notes that Neman’s holdings include 1,500,000 shares subject to restricted stock units that vest over time if Sweetgreen’s stock price reaches certain levels. The company maintains a healthy balance sheet with a current ratio of 2.02, indicating strong liquidity to meet short-term obligations.
In other recent news, Sweetgreen Inc. reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company posted an earnings per share of -$0.25, missing the forecasted -$0.20, and revenue of $160.9 million, slightly below the expected $163.4 million. Despite these setbacks, full-year 2024 sales grew by 15% to $676.8 million, marking the first full year of positive adjusted EBITDA at $18.7 million for Sweetgreen. Analysts from RBC Capital, UBS, and TD Cowen have revised their price targets for Sweetgreen, with RBC Capital reducing it to $30, UBS to $35, and TD Cowen to $33, while all firms maintained their positive ratings on the stock. The revisions were attributed to lower-than-expected same-store sales growth and external factors like wildfires and weather conditions affecting performance. Sweetgreen plans to open at least 40 new locations in 2025, with a focus on its Infinite Kitchen concept, which has shown promising results in terms of margins and average unit volume. The company is also enhancing its menu offerings and launching a new loyalty program, SG Rewards, to drive future growth.
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