Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sweetgreen Inc shares valued at $50,533 were sold by Ru Nathaniel on Oct 28 ’24. At $40.01 per share, Ru Nathaniel sold 1,263 shares. The insider’s holdings dropped to 1,952,129 shares worth approximately $70.47 million following the completion of this transaction.
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Also, Ru Nathaniel sold 1,009 shares, netting a total of over 40,370 in proceeds. Following the sale of shares at $40.01 each, the insider now holds 0 shares.
Before that, Neman Jonathan had sold 1,263 shares from its account. In a trade valued at $50,533, the CHIEF EXECUTIVE OFFICER traded Sweetgreen Inc shares for $40.01 each. Upon closing the transaction, the insider’s holdings decreased to 1,263 shares, worth approximately $69.68 million.
As published in a research note from TD Cowen on September 04, 2024, Sweetgreen Inc [SG] has been rated up from a Hold to a Buy and the price target has been revised to $43 from $31. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of July 17, 2024, UBS has initiated its “Buy” rating for SG. Earlier on July 16, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for SG stock which previously was a “an Underweight”.
Analyzing SG Stock Performance
During the last five days, there has been a drop of approximately -1.42%. Over the course of the year, Sweetgreen Inc shares have jumped approximately 219.47%. Shares of the company reached a 52-week high of $40.20 on 10/28/24 and a 52-week low of $9.66 on 01/17/24. A 50-day SMA is recorded $34.93, while a 200-day SMA reached $26.44. Nevertheless, trading volume fell to 2.48 million shares from 1.76 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 34.79, which, if violated, would cause prices to drop to 33.48. In the upper region, resistance lies at 37.77. The next price resistance is at 39.44. RSI (Relative Strength Index) is 48.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 74.71%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
