Sweetgreen (NYSE:SG) Trading Up 6.5%

Sweetgreen, Inc. (NYSE:SG) shot up 6.5% during mid-day trading on Tuesday . The stock traded as high as $21.69 and last traded at $21.64. 241,845 shares changed hands during trading, a decline of 89% from the average session volume of 2,161,066 shares. The stock had previously closed at $20.32.

Analyst Ratings Changes

Several brokerages recently issued reports on SG. TD Cowen reiterated a “hold” rating and set a $17.00 price target on shares of Sweetgreen in a research report on Wednesday, April 10th. Piper Sandler boosted their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Morgan Stanley boosted their price target on shares of Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Royal Bank of Canada upped their price objective on shares of Sweetgreen from $13.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Finally, Oppenheimer increased their price target on shares of Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Sweetgreen Price Performance

The firm has a market capitalization of $2.48 billion, a P/E ratio of -22.01 and a beta of 2.19. The company’s 50-day simple moving average is $19.55 and its two-hundred day simple moving average is $13.75.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The business had revenue of $153.00 million during the quarter, compared to the consensus estimate of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The firm’s revenue was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.44) earnings per share. Analysts predict that Sweetgreen, Inc. will post -0.71 earnings per share for the current year.

Insider Activity

In other news, insider Adrienne Gemperle sold 4,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.00, for a total transaction of $64,000.00. Following the sale, the insider now directly owns 129,407 shares in the company, valued at approximately $2,070,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $123,456.00. Following the transaction, the chief financial officer now owns 432,393 shares of the company’s stock, valued at approximately $5,188,716. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adrienne Gemperle sold 4,000 shares of Sweetgreen stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.00, for a total transaction of $64,000.00. Following the completion of the transaction, the insider now directly owns 129,407 shares in the company, valued at approximately $2,070,512. The disclosure for this sale can be found here. Insiders have sold 140,555 shares of company stock worth $2,214,389 in the last three months. Company insiders own 22.03% of the company’s stock.

Institutional Trading of Sweetgreen

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Sweetgreen by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,126,030 shares of the company’s stock valued at $95,481,000 after purchasing an additional 245,255 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Sweetgreen by 100.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 298,585 shares of the company’s stock valued at $3,508,000 after purchasing an additional 149,871 shares during the period. FMR LLC lifted its stake in shares of Sweetgreen by 0.6% in the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock valued at $174,019,000 after purchasing an additional 84,375 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Sweetgreen by 139.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 216,101 shares of the company’s stock valued at $2,539,000 after purchasing an additional 126,026 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $1,749,000. Hedge funds and other 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.