Sweetgreen (NYSE:SG) Trading Up 6.5%

Sweetgreen, Inc. (NYSE:SG) shares traded up 6.5% on Tuesday . The stock traded as high as $21.69 and last traded at $21.64. 241,845 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,161,066 shares. The stock had previously closed at $20.32.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 4th. TD Cowen reiterated a “hold” rating and issued a $17.00 price target on shares of Sweetgreen in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Oppenheimer increased their target price on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, Citigroup increased their target price on Sweetgreen from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.50.

Sweetgreen Price Performance

The firm has a 50-day simple moving average of $19.96 and a 200 day simple moving average of $13.88.

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

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $12.00, for a total transaction of $123,456.00. Following the sale, the chief financial officer now directly owns 432,393 shares of the company’s stock, valued at $5,188,716. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the transaction, the chief financial officer now directly owns 432,393 shares in the company, valued at $5,188,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 5,000 shares of Sweetgreen stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $11.55, for a total value of $57,750.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at $24,255,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,555 shares of company stock valued at $2,214,389. 22.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in Sweetgreen by 0.6% in the third quarter. FMR LLC now owns 14,810,112 shares of the company’s stock worth $174,019,000 after purchasing an additional 84,375 shares in the last quarter. Baillie Gifford & Co. grew its stake in Sweetgreen by 31.9% in the third quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock worth $141,117,000 after purchasing an additional 2,907,749 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sweetgreen by 2.8% in 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 during the period. Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 476,998 shares during the period. Finally, Invesco Ltd. boosted its stake in Sweetgreen by 1,435.2% in the third quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock valued at $19,679,000 after acquiring an additional 1,565,700 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.