Sweetgreen (NYSE:SG) Trading Up 3.8%

Sweetgreen, Inc. (NYSE:SG) shares traded up 3.8% during mid-day trading on Monday . The company traded as high as $26.83 and last traded at $26.64. 993,211 shares changed hands during trading, a decline of 61% from the average session volume of 2,554,797 shares. The stock had previously closed at $25.66.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Oppenheimer boosted 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. UBS Group began coverage on shares of Sweetgreen in a research note on Wednesday, July 17th. They issued a “buy” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, TD Cowen upped their price objective on Sweetgreen from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, June 13th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.20.

Sweetgreen Trading Up 2.9 %

The firm has a 50-day simple moving average of $29.16 and a two-hundred day simple moving average of $22.33. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -28.40 and a beta of 2.31.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The firm had revenue of $157.85 million during the quarter, compared to analyst estimates of $152.02 million. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.73 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In related news, insider Adrienne Gemperle sold 3,889 shares of Sweetgreen stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.35, for a total value of $121,920.15. Following the sale, the insider now directly owns 125,518 shares in the company, valued at approximately $3,934,989.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Sweetgreen news, insider Adrienne Gemperle sold 3,889 shares of Sweetgreen stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $31.35, for a total transaction of $121,920.15. Following the sale, the insider now owns 125,518 shares of the company’s stock, valued at approximately $3,934,989.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Neman sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $31.30, for a total transaction of $6,260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $65,730,000. The disclosure for this sale can be found here. Insiders have sold a total of 440,692 shares of company stock valued at $13,738,038 over the last ninety days. Corporate insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SG. Quest Partners LLC acquired a new position in Sweetgreen in the fourth quarter valued at approximately $104,000. Triumph Capital Management purchased a new position in shares of Sweetgreen during the 4th quarter worth $126,000. Handelsbanken Fonder AB acquired a new stake in shares of Sweetgreen during the 4th quarter worth about $137,000. Graham Capital Wealth Management LLC acquired a new position in Sweetgreen in the fourth quarter valued at about $139,000. Finally, Perigon Wealth Management LLC purchased a new position in Sweetgreen during the first quarter worth about $223,000. Institutional investors and hedge funds 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.