Sweetgreen (NYSE:SG) Stock Price Down 7.2%

Sweetgreen, Inc. (NYSE:SG - Get Free Report) was down 7.2% on Tuesday . The stock traded as low as $22.56 and last traded at $22.76. Approximately 1,246,801 shares were traded during trading, a decline of 43% from the average daily volume of 2,185,747 shares. The stock had previously closed at $24.53.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Sweetgreen from $16.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday. Oppenheimer upped their price target on Sweetgreen from $17.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, April 1st. Piper Sandler lifted their price objective on Sweetgreen from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. Royal Bank of Canada boosted their target price on Sweetgreen from $13.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. Finally, TD Cowen restated a "hold" rating and set a $17.00 price target on shares of Sweetgreen in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Sweetgreen Trading Down 8.4 %

The company's 50 day moving average price is $20.87 and its two-hundred day moving average price is $14.24. The firm has a market cap of $2.54 billion, a PE ratio of -22.48 and a beta of 2.19.

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 the consensus estimate of ($0.23) by ($0.01). The company 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 firm's quarterly revenue was up 29.0% compared to the same quarter last year. During the same period last year, the business earned ($0.44) EPS. Equities research analysts expect that Sweetgreen, Inc. will post -0.71 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $12.32, for a total value of $52,803.52. Following the completion of the transaction, the insider now directly owns 139,693 shares in the company, valued at approximately $1,721,017.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of Sweetgreen stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.32, for a total value of $52,803.52. Following the sale, the insider now directly owns 139,693 shares in the company, valued at approximately $1,721,017.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 58,067 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.36, for a total transaction of $949,976.12. Following the transaction, the chief executive officer now directly owns 2,100,000 shares of the company's stock, valued at approximately $34,356,000. The disclosure for this sale can be found here. Insiders sold a total of 140,555 shares of company stock valued at $2,214,389 over the last 90 days. Company insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently bought and sold shares of the business. FMR LLC raised its position in Sweetgreen by 0.6% during the third quarter. FMR LLC now owns 14,810,112 shares of the company's stock valued at $174,019,000 after purchasing an additional 84,375 shares during the period. Baillie Gifford & Co. increased its position in shares of Sweetgreen by 31.9% during the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company's stock valued at $141,117,000 after purchasing an additional 2,907,749 shares during the last quarter. Vanguard Group Inc. raised its holdings in Sweetgreen by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company's stock valued at $94,361,000 after buying an additional 224,522 shares during the period. Dimensional Fund Advisors LP lifted its position in Sweetgreen by 38.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company's stock worth $19,549,000 after buying an additional 476,998 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Sweetgreen by 1,435.2% during the third quarter. Invesco Ltd. now owns 1,674,791 shares of the company's stock worth $19,679,000 after buying an additional 1,565,700 shares during the period. Institutional investors own 95.75% of the company's stock.

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.