Sweetgreen (NYSE:SG) Trading Down 7.2%

Sweetgreen, Inc. (NYSE:SG) dropped 7.2% during trading on Tuesday . The stock traded as low as $22.56 and last traded at $22.76. Approximately 1,246,801 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 2,185,747 shares. The stock had previously closed at $24.53.

Analyst Upgrades and Downgrades

SG has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Morgan Stanley increased their price objective on shares of Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Royal Bank of Canada raised their price objective on shares of Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Citigroup upped their target price on Sweetgreen from $16.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Sweetgreen Trading Down 8.4 %

The business has a fifty day moving average price of $20.65 and a two-hundred day moving average price of $14.16. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -22.83 and a beta of 2.19.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The company had revenue of $153.00 million during the quarter, compared to analyst estimates of $152.04 million. During the same period last year, the company posted ($0.44) earnings per share. The company’s revenue was up 29.0% compared to the same quarter last year. On average, analysts anticipate that Sweetgreen, Inc. will post -0.71 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jonathan Neman sold 58,067 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.36, for a total transaction of $949,976.12. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $34,356,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Adrienne Gemperle sold 4,286 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.32, for a total value of $52,803.52. Following the completion of the transaction, the insider now owns 139,693 shares in the company, valued at approximately $1,721,017.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jonathan Neman sold 58,067 shares of Sweetgreen stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.36, for a total transaction of $949,976.12. Following the sale, the chief executive officer now owns 2,100,000 shares in the company, valued at $34,356,000. The disclosure for this sale can be found here. In the last three months, insiders sold 140,555 shares of company stock valued at $2,214,389. Company insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SG. Bourgeon Capital Management LLC bought a new position in shares of Sweetgreen in the third quarter valued at about $29,000. Compagnie Lombard Odier SCmA raised its stake in shares of Sweetgreen by 300.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company’s stock worth $94,000 after acquiring an additional 6,000 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in Sweetgreen during the 1st quarter worth $223,000. Quest Partners LLC bought a new position in shares of Sweetgreen in the 4th quarter valued at about $104,000. Finally, Clear Harbor Asset Management LLC acquired a new position in Sweetgreen in the fourth quarter valued at approximately $113,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.