Sweetgreen (NYSE:SG) Trading 4% Higher – Here’s What Happened

Sweetgreen, Inc. (NYSE:SG)’s stock price traded up 4% during trading on Monday . The stock traded as high as $36.96 and last traded at $36.69. 1,627,499 shares were traded during mid-day trading, a decline of 43% from the average session volume of 2,831,434 shares. The stock had previously closed at $35.27.

Analyst Ratings Changes

Several equities analysts have commented on SG shares. Morgan Stanley boosted their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. UBS Group raised their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup upped their price target on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Finally, Bank of America raised their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.20.

Sweetgreen Trading Down 0.2 %

The firm’s fifty day moving average price is $34.54 and its 200-day moving average price is $29.96. The company has a market cap of $4.18 billion, a P/E ratio of -39.96 and a beta of 2.33.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same period in the previous year, the business posted ($0.20) earnings per share. Sweetgreen’s revenue was up 21.0% on a year-over-year basis. As a group, research analysts forecast that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other news, insider Nathaniel Ru sold 9,250 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the completion of the sale, the insider now directly owns 1,952,129 shares in the company, valued at approximately $56,104,187.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the sale, the chief technology officer now directly owns 144,649 shares of the company’s stock, valued at approximately $5,252,205.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathaniel Ru sold 9,250 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total value of $265,845.00. Following the transaction, the insider now directly owns 1,952,129 shares in the company, valued at $56,104,187.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 426,061 shares of company stock valued at $15,071,720 in the last three months. 21.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Sweetgreen by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after buying an additional 224,522 shares during the period. PNC Financial Services Group Inc. boosted its stake in Sweetgreen by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after acquiring an additional 830 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Sweetgreen during the 1st quarter worth approximately $286,000. Artemis Investment Management LLP acquired a new position in Sweetgreen during the first quarter valued at approximately $15,042,000. Finally, Optas LLC bought a new stake in Sweetgreen in the first quarter valued at approximately $388,000. 95.75% of the stock is owned by institutional investors.

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.