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In recent transactions filed with the Securities and Exchange Commission, Sweetgreen , Inc. (NYSE:SG) Chief Operating Officer Williams Rossann sold shares of the company’s Class A Common Stock. On March 17, Rossann sold 4,977 shares at a price of $23.80 per share, totaling $118,452. The sale comes as Sweetgreen’s stock has experienced significant volatility, with shares down over 30% in the past six months according to InvestingPro data.
Prior to this sale, on March 15, Rossann was granted 9,671 fully vested Restricted Stock Units (RSUs), which are rights to receive shares of the company’s Class A common stock upon settlement. This grant did not involve any cash transaction, as the RSUs were granted at a price of $0. The company, currently valued at $2.8 billion, trades at a high Price/Book multiple of 6.35x.
Following these transactions, Rossann holds 95,516 shares of Sweetgreen’s Class A Common Stock. The sale was part of a "sell to cover" transaction mandated by the company’s equity incentive plans to satisfy tax withholding obligations, rather than a discretionary trade by Rossann. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.02, though analysts don’t expect profitability this year. Get access to 10+ additional ProTips and comprehensive financial analysis with InvestingPro.
In other recent news, Sweetgreen Inc. reported its fourth-quarter 2024 earnings, which did not meet analyst expectations. The company posted an earnings per share (EPS) of -$0.25, compared to a forecast of -$0.20, and revenue of $160.9 million, slightly below the expected $163.4 million. Despite the earnings miss, Sweetgreen achieved a 15% increase in full-year sales to $676.8 million and reported its first full year of positive adjusted EBITDA at $18.7 million. Analysts at Piper Sandler maintained a Neutral rating with a $27 price target, acknowledging the volatility in the restaurant sector but expressing cautious optimism about Sweetgreen’s growth potential.
Meanwhile, UBS lowered its price target for Sweetgreen from $45 to $35, maintaining a Buy rating, and noted challenges such as weather conditions and California wildfires affecting performance. UBS highlighted Sweetgreen’s plans to open at least 40 new locations in 2025, with half being Infinite Kitchen units, which have shown promising results. TD Cowen also revised its price target to $33 from $45, maintaining a Buy rating, and pointed out Sweetgreen’s adjusted EBITDA loss of $0.6 million in the fourth quarter, which was below expectations. RBC Capital reduced its price target to $30 from $45 but maintained an Outperform rating, citing underwhelming same-store sales and short-term challenges, while remaining optimistic about Sweetgreen’s long-term growth strategies.
Sweetgreen’s management is focusing on expanding its menu, introducing a loyalty program, and increasing marketing efforts to counterbalance near-term challenges. The company aims to open 40 new restaurants in 2025, with revenue expectations between $760 million and $780 million. Despite recent setbacks, Sweetgreen’s strategic initiatives and commitment to innovation and expansion are seen as key factors for future growth.
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