Sweetgreen (NYSE:SG) Stock Price Up 4% - What's Next?

Sweetgreen, Inc. (NYSE:SG - Get Free Report) traded up 4% during mid-day trading on Monday . The company traded as high as $36.96 and last traded at $36.69. 1,627,499 shares traded hands during trading, a decline of 43% from the average session volume of 2,831,434 shares. The stock had previously closed at $35.27.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen reissued a "buy" rating and set a $43.00 price objective on shares of Sweetgreen in a report on Friday, September 27th. Piper Sandler reissued a "neutral" rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th. Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Bank of America raised their target price on Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Finally, UBS Group raised their target price on Sweetgreen from $31.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Sweetgreen currently has an average rating of "Moderate Buy" and an average target price of $38.20.

Sweetgreen Price Performance

The stock has a 50-day moving average of $34.49 and a 200 day moving average of $29.88. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -44.96 and a beta of 2.33.

Sweetgreen (NYSE:SG - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same quarter last year, the business posted ($0.20) EPS. Sweetgreen's quarterly revenue was up 21.0% on a year-over-year basis. Sell-side analysts anticipate that Sweetgreen, Inc. will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sweetgreen news, insider Nathaniel Ru sold 9,250 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the transaction, the insider now owns 1,952,129 shares in the company, valued at approximately $56,104,187.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nicolas Jammet sold 21,275 shares of Sweetgreen stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50. Following the transaction, the insider now owns 1,930,233 shares in the company, valued at $67,751,178.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $28.74, for a total value of $265,845.00. Following the transaction, the insider now owns 1,952,129 shares in the company, valued at $56,104,187.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 426,061 shares of company stock worth $15,071,720. Insiders own 21.52% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors have recently modified their holdings of SG. Vanguard Group Inc. lifted its holdings in shares of Sweetgreen by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company's stock valued at $94,361,000 after purchasing an additional 224,522 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Sweetgreen by 2.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company's stock valued at $468,000 after acquiring an additional 830 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Sweetgreen in the 1st quarter valued at approximately $286,000. Artemis Investment Management LLP bought a new stake in Sweetgreen in the 1st quarter valued at approximately $15,042,000. Finally, Optas LLC bought a new stake in Sweetgreen in the 1st quarter valued at approximately $388,000. 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.