Insider Buying: Sweetgreen, Inc. (NYSE:SG) Director Purchases 19,200 Shares of Stock

Sweetgreen, Inc. (NYSE:SG - Get Free Report) Director Clifford Burrows acquired 19,200 shares of the company's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $13.11 per share, with a total value of $251,712.00. Following the completion of the purchase, the director now directly owns 19,200 shares of the company's stock, valued at approximately $251,712. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sweetgreen Stock Up 5.5%

Shares of SG traded up $0.70 during midday trading on Friday, hitting $13.46. The company's stock had a trading volume of 4,961,827 shares, compared to its average volume of 3,550,074. Sweetgreen, Inc. has a one year low of $12.37 and a one year high of $45.12. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -17.26 and a beta of 2.31. The company's fifty day simple moving average is $18.63 and its two-hundred day simple moving average is $26.96.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm had revenue of $166.30 million for the quarter, compared to analysts' expectations of $164.68 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The company's revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its position in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after buying an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after acquiring an additional 494 shares during the period. Millstone Evans Group LLC bought a new position in shares of Sweetgreen in the 4th quarter worth $53,000. Finally, Denver PWM LLC acquired a new position in Sweetgreen during the fourth quarter worth $60,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on SG. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Morgan Stanley reduced their price target on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. TD Securities reaffirmed a "buy" rating and set a $25.00 price objective on shares of Sweetgreen in a report on Thursday, May 15th. Piper Sandler cut their target price on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their target price on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

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.