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Nicolas Jammet, Chief Concept Officer at Sweetgreen , Inc. (NYSE:SG), reported a sale of company stock valued at $50,527, according to a recent SEC filing. The transaction, which occurred on March 17, involved the sale of 2,123 shares at a price of $23.80 per share. This sale was part of a "sell to cover" transaction, mandated by Sweetgreen’s equity incentive plans to satisfy tax withholding obligations. The sale comes amid challenging market conditions for the $2.8 billion company, which has seen its stock decline over 30% in the past six months, according to InvestingPro data. Despite the recent volatility, analysts maintain price targets ranging from $26 to $39 per share.
In a separate transaction on March 15, Jammet acquired 5,292 shares of Class A Common Stock through a grant of fully vested Restricted Stock Units (RSUs) at no cost. Following these transactions, Jammet holds a total of 1,763,203 shares directly. For deeper insights into Sweetgreen’s financial health, valuation metrics, and 10+ additional exclusive ProTips, visit InvestingPro, where you’ll find comprehensive analysis and detailed research reports.
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 (EPS) of -$0.25, below the forecast of -$0.20, and revenue of $160.9 million, slightly under the expected $163.4 million. Despite this, 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. Meanwhile, UBS revised its price target for Sweetgreen from $45 to $35, maintaining a Buy rating, citing near-term challenges like weather conditions and wildfires. RBC Capital also adjusted its price target from $45 to $30, noting that Sweetgreen’s 2025 guidance did not meet market expectations. Similarly, TD Cowen lowered its target to $33 from $45 but kept a Buy rating, highlighting a slowdown in restaurant traffic. Piper Sandler maintained a Neutral rating with a $27 target, acknowledging market volatility but expressing cautious optimism about Sweetgreen’s growth potential. These developments reflect the ongoing challenges and strategic shifts Sweetgreen faces in the current market environment.
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