Sweetgreen (NYSE:SG) Trading 3.1% Higher

Sweetgreen, Inc. (NYSE:SG)’s share price rose 3.1% during trading on Friday . The stock traded as high as $29.54 and last traded at $29.34. Approximately 713,554 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 2,791,776 shares. The stock had previously closed at $28.45.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer lifted their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. The Goldman Sachs Group started coverage on shares of Sweetgreen in a research report on Thursday, June 13th. They issued a “buy” rating and a $39.00 price target for the company. Piper Sandler reaffirmed 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. JPMorgan Chase & Co. boosted their target price on shares of Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, Royal Bank of Canada raised their target price on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Sweetgreen Trading Down 3.2 %

The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -30.60 and a beta of 2.32. The stock has a fifty day moving average price of $29.13 and a 200 day moving average price of $26.26.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same quarter last year, the business earned ($0.20) EPS. The business’s revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 9,156 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the completion of the transaction, the chief financial officer now owns 379,181 shares of the company’s stock, valued at $13,881,816.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.61, for a total transaction of $335,201.16. Following the sale, the chief financial officer now owns 379,181 shares of the company’s stock, valued at approximately $13,881,816.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adrienne Gemperle sold 6,225 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.40, for a total value of $207,915.00. Following the completion of the transaction, the insider now owns 112,685 shares of the company’s stock, valued at $3,763,679. The disclosure for this sale can be found here. Insiders sold a total of 371,116 shares of company stock worth $13,248,867 in the last ninety days. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently modified their holdings of SG. Driehaus Capital Management LLC grew its holdings in shares of Sweetgreen by 231.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,878,216 shares during the last quarter. Hood River Capital Management LLC bought a new stake in Sweetgreen during the first quarter worth about $29,105,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sweetgreen during the second quarter worth approximately $33,449,000. Renaissance Technologies LLC bought a new position in shares of Sweetgreen in the second quarter valued at approximately $29,109,000. Finally, Teca Partners LP bought a new position in shares of Sweetgreen in the fourth quarter valued at approximately $8,475,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Company Profile

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.