LOS ANGELES—Adrienne Gemperle, the Chief People Officer at Sweetgreen, Inc. (NYSE:SG), recently executed a series of stock transactions amounting to a total sale of $360,152. According to a recent SEC filing, Gemperle sold shares over two days, with the transactions occurring on November 18 and November 19.
On November 18, Gemperle sold 5,372 shares of Sweetgreen's Class A Common Stock at a price of $34.05 per share, totaling $182,916. This sale was reportedly mandated by the company's equity incentive plan to cover tax withholding obligations.
The following day, Gemperle continued with additional sales amounting to $177,236. These transactions were executed at prices ranging from $33.96 to $37.89 per share. The sales were conducted under a Rule 10b5-1 trading plan adopted by Gemperle on August 31, 2023, allowing for pre-scheduled trading of company stock.
After these transactions, Gemperle retains ownership of 102,452 shares of Sweetgreen's Class A Common Stock. The company's shares are traded on the New York Stock Exchange under the ticker symbol SG.
In other recent news, Sweetgreen Inc. experienced a steady growth trajectory, as evidenced by the company's recent Q3 2024 Earnings Call. The company reported a 13% year-over-year increase in sales, hitting $173.4 million, and a 6% growth in same-store sales. Sweetgreen also lessened its net loss to $20.8 million from $25.1 million year-over-year, and improved its margins.
In addition to these financial advancements, Sweetgreen opened five new restaurants in Q3, totaling 236 locations, and announced plans to open at least 40 new locations in FY 2025, with half featuring the innovative Infinite Kitchen technology. TD Cowen, an analyst firm, maintains a Buy rating for Sweetgreen, with a price target of $45.00, expressing confidence in the company's growth strategy, including the potential of its Infinite Kitchen concept.
The firm's projections for Sweetgreen's 2025 estimated same-store sales are above-consensus, leading to Sweetgreen's elevation to the #2 pick by the analyst. Additionally, Sweetgreen raised its fiscal 2024 guidance, projecting revenue between $675 million to $680 million and same-store sales growth of 6% to 7%. These recent developments underscore Sweetgreen's continued growth and strategic expansion efforts.
InvestingPro Insights
To provide additional context to Adrienne Gemperle's recent stock transactions, it's worth examining Sweetgreen's current financial position and market performance. According to InvestingPro data, Sweetgreen's market capitalization stands at $3.91 billion, reflecting its position in the fast-casual restaurant sector.
The company's stock has shown significant volatility recently, with InvestingPro Tips noting that the stock has taken a big hit over the last week, declining by 10.74%. This recent downturn comes despite an impressive year-to-date price total return of 199.38% and a one-year return of 243.8%, highlighting the stock's high volatility.
From a financial perspective, Sweetgreen's revenue for the last twelve months as of Q3 2023 was $668.95 million, with a revenue growth of 21.72% over the same period. However, the company is currently operating at a loss, with an adjusted operating income of -$90.05 million for the last twelve months. This aligns with an InvestingPro Tip suggesting that analysts do not anticipate the company will be profitable this year.
Despite these challenges, Sweetgreen maintains a strong liquidity position. An InvestingPro Tip indicates that the company's liquid assets exceed its short-term obligations, which could provide some financial flexibility as it works towards profitability.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Sweetgreen, providing deeper insights into the company's financial health and market position.
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