Sweetgreen (NYSE:SG) Stock Price Down 6.9% - What's Next?

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) traded down 6.9% during trading on Thursday . The stock traded as low as $31.20 and last traded at $30.77. 354,685 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,455,208 shares. The stock had previously closed at $33.05.

Analyst Ratings Changes

Several equities research analysts have issued reports on SG shares. Oppenheimer lowered their price target on shares of Sweetgreen from $45.00 to $41.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley cut their price target on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group restated a "neutral" rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group upped their price target on Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, TD Cowen restated a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.20.

Sweetgreen Trading Down 0.9 %

The firm has a fifty day simple moving average of $33.78 and a 200-day simple moving average of $34.47. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -37.27 and a beta of 2.37.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). The firm had revenue of $173.43 million during the quarter, compared to analyst estimates of $173.67 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. During the same quarter in the previous year, the business earned ($0.22) earnings per share. On average, equities analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 9,507 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $323,713.35. Following the completion of the transaction, the chief financial officer now owns 360,177 shares in the company, valued at $12,264,026.85. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Neman sold 14,745 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $663,525.00. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company's stock, valued at approximately $86,860,260. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 608,877 shares of company stock worth $23,466,012 over the last ninety days. Company insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently made changes to their positions in SG. Steward Partners Investment Advisory LLC boosted its position in Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen during the 3rd quarter worth about $35,000. Denver PWM LLC acquired a new position in Sweetgreen in the 4th quarter valued at about $60,000. Wilmington Savings Fund Society FSB bought a new position in Sweetgreen in the 4th quarter valued at about $62,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Sweetgreen during the fourth quarter worth approximately $77,000. 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.