Sweetgreen (NYSE:SG) Trading Down 5.8% - Should You Sell?

Sweetgreen, Inc. (NYSE:SG - Get Free Report) fell 5.8% during mid-day trading on Monday . The company traded as low as $33.05 and last traded at $33.05. 429,963 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,844,566 shares. The stock had previously closed at $35.10.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SG shares. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a "sector weight" rating for the company. Oppenheimer boosted their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. The Goldman Sachs Group reiterated a "neutral" rating and set a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, TD Cowen reaffirmed a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $39.80.

Sweetgreen Stock Performance

The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -42.47 and a beta of 2.32. The business's 50 day moving average is $38.16 and its 200-day moving average is $33.54.

Insider Transactions at Sweetgreen

In related news, insider Nathaniel Ru sold 1,263 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $50,532.63. Following the completion of the transaction, the insider now directly owns 1,952,129 shares in the company, valued at $78,104,681.29. This represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicolas Jammet sold 170,199 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the transaction, the insider now directly owns 1,760,034 shares of the company's stock, valued at $66,406,082.82. This represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 640,838 shares of company stock worth $24,800,733. Company insiders own 21.52% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently made changes to their positions in SG. Hollencrest Capital Management bought a new position in shares of Sweetgreen during the 3rd quarter worth approximately $35,000. Quest Partners LLC bought a new stake in Sweetgreen during the second quarter worth about $76,000. KBC Group NV raised its stake in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after acquiring an additional 704 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Sweetgreen during the 3rd quarter worth approximately $155,000. Finally, Canton Hathaway LLC acquired a new stake in Sweetgreen during the 3rd quarter valued at $177,000. Institutional investors and hedge funds 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.