Sweetgreen (NYSE:SG) Shares Up 5.3%

Sweetgreen, Inc. (NYSE:SG) was up 5.3% on Friday . The stock traded as high as $36.00 and last traded at $35.75. Approximately 804,010 shares were traded during trading, a decline of 72% from the average daily volume of 2,828,310 shares. The stock had previously closed at $33.95.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. TD Cowen raised Sweetgreen from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $43.00 in a report on Wednesday, September 4th. Oppenheimer upped their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Citigroup raised their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Finally, UBS Group boosted their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Sweetgreen Trading Up 1.9 %

The stock has a 50 day simple moving average of $29.45 and a 200-day simple moving average of $27.19. The firm has a market cap of $3.95 billion, a PE ratio of -37.18 and a beta of 2.32.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same period last year, the business posted ($0.20) EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that Sweetgreen, Inc. will post -0.75 EPS for the current year.

Insider Transactions at Sweetgreen

In related news, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction on 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 directly owns 379,181 shares of the company’s stock, valued at $13,881,816.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Wouleta Ayele sold 2,831 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $102,793.61. Following the sale, the chief technology officer now directly owns 144,649 shares of the company’s stock, valued at approximately $5,252,205.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 9,156 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the sale, the chief financial officer now directly owns 379,181 shares in the company, valued at approximately $13,881,816.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 387,766 shares of company stock valued at $13,727,906. 21.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Sweetgreen

Large investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new position in Sweetgreen in the second quarter worth about $76,000. Versor Investments LP bought a new stake in shares of Sweetgreen in the 2nd quarter valued at approximately $217,000. Thoroughbred Financial Services LLC purchased a new position in shares of Sweetgreen in the 2nd quarter worth approximately $233,000. Nkcfo LLC bought a new position in shares of Sweetgreen during the 2nd quarter valued at approximately $241,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in Sweetgreen during the 2nd quarter valued at $256,000. 95.75% of the stock is currently 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.