Sweetgreen (NYSE:SG) Trading 4% Higher

Sweetgreen, Inc. (NYSE:SG - Get Free Report) was up 4% during mid-day trading on Friday . The company traded as high as $24.95 and last traded at $24.95. Approximately 129,742 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 2,237,902 shares. The stock had previously closed at $23.98.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SG. JPMorgan Chase & Co. raised 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. Piper Sandler raised their target price on Sweetgreen from $16.00 to $19.00 and gave the stock an "overweight" rating in a research report on Friday, March 1st. Royal Bank of Canada raised their target price on Sweetgreen from $13.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, March 4th. Oppenheimer raised their target price on Sweetgreen from $17.00 to $34.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, TD Cowen raised their target price on Sweetgreen from $15.00 to $17.00 and gave the stock a "market perform" rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.88.

Sweetgreen Stock Up 6.0 %

The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -25.41 and a beta of 2.20. The business has a 50-day moving average of $17.20 and a 200-day moving average of $12.91.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). The business had revenue of $153.00 million during the quarter, compared to the consensus estimate of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The company's revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. Equities analysts anticipate that Sweetgreen, Inc. will post -0.65 earnings per share for the current year.

Insider Transactions at Sweetgreen

In related news, insider Adrienne Gemperle sold 4,286 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.32, for a total transaction of $52,803.52. Following the transaction, the insider now directly owns 139,693 shares in the company, valued at $1,721,017.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Mitch Reback sold 29,475 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total transaction of $619,269.75. Following the transaction, the chief financial officer now directly owns 405,584 shares in the company, valued at $8,521,319.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adrienne Gemperle sold 4,286 shares of the business's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $12.32, for a total value of $52,803.52. Following the transaction, the insider now owns 139,693 shares in the company, valued at $1,721,017.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,555 shares of company stock worth $2,266,739. Company insiders own 22.03% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings in Sweetgreen by 146.1% during the fourth quarter. Baillie Gifford & Co. now owns 5,291,714 shares of the company's stock valued at $45,350,000 after purchasing an additional 3,141,070 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Sweetgreen by 10.1% during the fourth quarter. HighTower Advisors LLC now owns 11,293 shares of the company's stock valued at $97,000 after purchasing an additional 1,036 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sweetgreen by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 1,395,291 shares of the company's stock valued at $11,957,000 after purchasing an additional 57,732 shares in the last quarter. Credit Suisse AG boosted its holdings in Sweetgreen by 31.9% during the fourth quarter. Credit Suisse AG now owns 487,203 shares of the company's stock valued at $4,175,000 after purchasing an additional 117,711 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Sweetgreen during the fourth quarter valued at approximately $302,000. 95.75% of the stock is currently owned by institutional investors.

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.