Sweetgreen (NYSE:SG) Shares Down 5.7%

Sweetgreen, Inc. (NYSE:SGGet Free Report)’s share price was down 5.7% during trading on Monday . The stock traded as low as $25.92 and last traded at $25.99. Approximately 1,503,306 shares changed hands during trading, a decline of 40% from the average daily volume of 2,515,297 shares. The stock had previously closed at $27.57.

Analysts Set New Price Targets

Several analysts have commented on SG shares. JPMorgan Chase & Co. upped their target price on shares of Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. TD Cowen boosted their price target on shares of Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, June 13th. The Goldman Sachs Group assumed coverage on shares of Sweetgreen in a report on Thursday, June 13th. They issued a “buy” rating and a $39.00 price target for the company. Oppenheimer boosted their price target on shares of Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Finally, Morgan Stanley boosted their price target on shares of Sweetgreen from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Check Out Our Latest Report on Sweetgreen

Sweetgreen Trading Down 1.7 %

The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -25.80 and a beta of 2.31. The stock’s 50 day moving average is $29.69 and its two-hundred day moving average is $21.07.

Sweetgreen (NYSE:SGGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The company had revenue of $157.85 million during the quarter, compared to analyst estimates of $152.02 million. Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. Sweetgreen’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.29) earnings per share. On average, research analysts anticipate that Sweetgreen, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at approximately $64,050,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Adrienne Gemperle sold 3,889 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.35, for a total transaction of $121,920.15. Following the completion of the transaction, the insider now directly owns 125,518 shares in the company, valued at approximately $3,934,989.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at $64,050,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,692 shares of company stock valued at $13,738,038. Company insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in shares of 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 purchasing an additional 830 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Sweetgreen by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock valued at $322,000 after purchasing an additional 1,337 shares during the period. Swiss National Bank raised its holdings in shares of Sweetgreen by 0.9% in the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after purchasing an additional 1,500 shares during the period. ProShare Advisors LLC raised its holdings in shares of Sweetgreen by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after purchasing an additional 1,585 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in shares of Sweetgreen by 1.0% in the 4th quarter. Panagora Asset Management Inc. now owns 182,254 shares of the company’s stock valued at $2,059,000 after purchasing an additional 1,733 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Company Profile

(Get Free Report)

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.

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