Sweetgreen (NYSE:SG) Trading 8.4% Higher

Sweetgreen, Inc. (NYSE:SG) shares were up 8.4% on Thursday . The stock traded as high as $21.62 and last traded at $21.58. Approximately 2,273,563 shares changed hands during mid-day trading, an increase of 2% from the average daily volume of 2,228,745 shares. The stock had previously closed at $19.91.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SG shares. Citigroup lifted their target price on Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank of Canada lifted their price target on shares of Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 4th. TD Cowen reissued a “hold” rating and issued a $17.00 price objective on shares of Sweetgreen in a research note on Wednesday, April 10th. Piper Sandler lifted their target price on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. increased their price target on Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Sweetgreen Stock Performance

The company has a fifty day moving average price of $21.04 and a 200-day moving average price of $14.28. The firm has a market capitalization of $2.41 billion, a PE ratio of -21.16 and a beta of 2.21.

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

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 12,442 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $11.33, for a total transaction of $140,967.86. Following the transaction, the insider now owns 127,251 shares in the company, valued at $1,441,753.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sweetgreen news, insider Adrienne Gemperle sold 12,442 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $11.33, for a total value of $140,967.86. Following the completion of the sale, the insider now owns 127,251 shares of the company’s stock, valued at $1,441,753.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mitch Reback sold 29,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total value of $619,269.75. Following the transaction, the chief financial officer now directly owns 405,584 shares in the company, valued at approximately $8,521,319.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,555 shares of company stock worth $2,214,389. 21.52% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently bought and sold shares of SG. FMR LLC increased its stake in Sweetgreen by 0.6% in the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock worth $174,019,000 after buying an additional 84,375 shares during the period. Baillie Gifford & Co. increased its position in shares of Sweetgreen by 31.9% during the third quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock worth $141,117,000 after acquiring an additional 2,907,749 shares during the period. Vanguard Group Inc. raised its stake in shares of Sweetgreen by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after acquiring an additional 224,522 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 during the period. Finally, Invesco Ltd. increased its holdings in Sweetgreen by 1,435.2% during the 3rd quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock worth $19,679,000 after purchasing an additional 1,565,700 shares during the period. Hedge funds and other institutional investors 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.