Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Sweetgreen Inc shares valued at $6,072,566 were sold by Jammet Nicolas on Aug 26 ’24. At $35.77 per share, Jammet Nicolas sold 169,767 shares. The insider’s holdings dropped to 1,930,233 shares worth approximately $62.37 million following the completion of this transaction.
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Also, Ru Nathaniel sold 169,770 shares, netting a total of over 6,072,673 in proceeds. Following the sale of shares at $35.77 each, the insider now holds 1,952,129 shares.
Before that, Neman Jonathan had sold 169,772 shares from its account. In a trade valued at $6,072,744, the CHIEF EXECUTIVE OFFICER traded Sweetgreen Inc shares for $35.77 each. Upon closing the transaction, the insider’s holdings decreased to 169,772 shares, worth approximately $62.37 million.
As published in a research note from Piper Sandler on August 19, 2024, Sweetgreen Inc [SG] has been rated down from an Overweight to a Neutral and the price target has been revised to $39 from $33. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of July 16, 2024, Morgan Stanley has increased its “an Underweight” rating to a “an Equal-weight” for SG. Earlier on June 13, 2024, Goldman initiated its rating. Their recommendation was “a Buy” for SG stock.
Analyzing SG Stock Performance
During the last five days, there has been a drop of approximately -6.27%. Over the course of the year, Sweetgreen Inc shares have jumped approximately 185.93%. Shares of the company reached a 52-week high of $38.53 on 08/23/24 and a 52-week low of $9.66 on 01/17/24. A 50-day SMA is recorded $29.03, while a 200-day SMA reached $20.91. Nevertheless, trading volume fell to 3.05 million shares from 2.06 million shares the previous day.
Support And Resistance Levels for Sweetgreen Inc (SG)
According to the 24-hour chart, there is a support level at 31.50, which, if violated, would cause prices to drop to 30.70. In the upper region, resistance lies at 33.70. The next price resistance is at 35.10. RSI (Relative Strength Index) is 51.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.02, which suggests the price will decrease in the coming days. Percent R is at 88.60%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
