Sweetgreen (NYSE:SG) Shares Down 5.9%

Shares of Sweetgreen, Inc. (NYSE:SG) were down 5.9% during mid-day trading on Tuesday . The company traded as low as $27.44 and last traded at $27.60. Approximately 1,129,921 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 2,522,954 shares. The stock had previously closed at $29.33.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SG shares. Royal Bank of Canada increased their price objective on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Oppenheimer increased their price objective on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. TD Cowen increased their price objective on Sweetgreen from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, June 13th. Citigroup increased their price objective on Sweetgreen from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. increased their price objective on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.67.

Sweetgreen Stock Up 1.3 %

The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -30.47 and a beta of 2.31. The business has a 50-day simple moving average of $29.36 and a two-hundred day simple moving average of $20.55.

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

Insider Activity

In other news, CTO Wouleta Ayele sold 2,748 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $31.35, for a total transaction of $86,149.80. Following the completion of the sale, the chief technology officer now owns 147,480 shares in the company, valued at approximately $4,623,498. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the completion of the sale, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $64,050,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Wouleta Ayele sold 2,748 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $31.35, for a total value of $86,149.80. Following the sale, the chief technology officer now owns 147,480 shares of the company’s stock, valued at approximately $4,623,498. The disclosure for this sale can be found here. In the last 90 days, insiders sold 440,692 shares of company stock worth $13,738,038. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Sweetgreen by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after purchasing an additional 70,395 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sweetgreen by 38.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after purchasing an additional 476,998 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Sweetgreen in the first quarter valued at $29,105,000. Teca Partners LP lifted its holdings in shares of Sweetgreen by 2.6% in the first quarter. Teca Partners LP now owns 769,200 shares of the company’s stock valued at $19,430,000 after purchasing an additional 19,172 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Sweetgreen in the fourth quarter valued at $8,452,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.