Sweetgreen (NYSE:SG) Trading 6.5% Higher

Sweetgreen, Inc. (NYSE:SG - Get Free Report)'s share price shot up 6.5% on Tuesday . The stock traded as high as $21.69 and last traded at $21.64. 241,845 shares were traded during trading, a decline of 89% from the average session volume of 2,161,066 shares. The stock had previously closed at $20.32.

Wall Street Analyst Weigh In

Several research firms have weighed in on SG. Royal Bank of Canada raised their price target on Sweetgreen from $13.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, March 4th. Morgan Stanley raised their price objective on Sweetgreen from $11.00 to $16.00 and gave the stock an "underweight" rating in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on Sweetgreen from $20.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, March 19th. Citigroup raised their price objective on Sweetgreen from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, February 21st. Finally, TD Cowen restated a "hold" rating and set a $17.00 price objective on shares of Sweetgreen in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Sweetgreen presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

Sweetgreen Stock Up 9.5 %

The stock has a fifty day moving average of $19.55 and a two-hundred day moving average of $13.75. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -22.25 and a beta of 2.19.

Sweetgreen (NYSE:SG - Get Free Report) last issued 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). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The company had revenue of $153.00 million for the quarter, compared to analyst estimates of $152.04 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. The company's revenue for the quarter was up 29.0% compared to the same quarter last year. 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, CEO Jonathan Neman sold 5,000 shares of the business's 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 sale, the chief executive officer now directly owns 2,100,000 shares of the company's stock, valued at $24,255,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mitch Reback sold 10,288 shares of the business's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the sale, the chief financial officer now directly owns 432,393 shares of the company's stock, valued at $5,188,716. 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.

Institutional Trading of Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Sweetgreen in the third quarter valued at approximately $241,000. Compagnie Lombard Odier SCmA boosted its stake in Sweetgreen by 300.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company's stock valued at $94,000 after acquiring an additional 6,000 shares during the period. Curated Wealth Partners LLC acquired a new position in Sweetgreen in the third quarter valued at approximately $848,000. Bank of New York Mellon Corp boosted its stake in Sweetgreen by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 343,549 shares of the company's stock valued at $4,037,000 after acquiring an additional 19,538 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Sweetgreen by 31.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,505 shares of the company's stock valued at $570,000 after acquiring an additional 11,500 shares during the period. 95.75% of the stock is 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.