Sweetgreen, Inc. (NYSE:SG – Get Free Report)’s stock price rose 2.6% during mid-day trading on Tuesday . The company traded as high as $33.50 and last traded at $33.44. Approximately 436,023 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,552,473 shares. The stock had previously closed at $32.60.
Analyst Upgrades and Downgrades
SG has been the subject of several recent research reports. Piper Sandler upped their price objective on Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Royal Bank of Canada upped their price objective on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Finally, Citigroup upped their target price on Sweetgreen from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and an average target price of $27.25.
Sweetgreen Trading Up 3.2 %
The company has a 50-day moving average price of $26.72 and a two-hundred day moving average price of $18.20. The stock has a market capitalization of $3.81 billion, a P/E ratio of -35.06 and a beta of 2.34.
Sweetgreen (NYSE:SG – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $157.85 million during the quarter, compared to analyst estimates of $152.02 million. Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) earnings per share. Research analysts forecast that Sweetgreen, Inc. will post -0.73 earnings per share for the current year.
Insider Buying and Selling at Sweetgreen
In other Sweetgreen news, CEO Jonathan Neman sold 150,000 shares of Sweetgreen stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $64,050,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sweetgreen news, CEO Jonathan Neman sold 150,000 shares of Sweetgreen stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at approximately $64,050,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adrienne Gemperle sold 6,808 shares of Sweetgreen stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.95, for a total transaction of $210,707.60. Following the completion of the sale, the insider now directly owns 118,710 shares in the company, valued at approximately $3,674,074.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 440,692 shares of company stock worth $13,738,038. Insiders own 21.52% of the company’s stock.
Institutional Investors Weigh In On Sweetgreen
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Sweetgreen by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock valued at $468,000 after acquiring an additional 830 shares during the period. Principal Financial Group Inc. raised its holdings in Sweetgreen by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock valued at $322,000 after acquiring an additional 1,337 shares during the period. Swiss National Bank raised its holdings in Sweetgreen by 0.9% during the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after acquiring an additional 1,500 shares during the period. ProShare Advisors LLC grew its position in shares of Sweetgreen by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after purchasing an additional 1,585 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Sweetgreen by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 182,254 shares of the company’s stock valued at $2,059,000 after purchasing an additional 1,733 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.
About Sweetgreen
Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.