Sweetgreen, Inc. (NYSE:SG) Given Average Rating of "Hold" by Brokerages

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has been assigned an average rating of "Hold" from the fourteen analysts that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $25.23.

Several brokerages recently weighed in on SG. UBS Group decreased their target price on Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 5th. The Goldman Sachs Group decreased their target price on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, June 4th. Piper Sandler decreased their target price on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Morgan Stanley decreased their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Finally, TD Cowen reaffirmed a "hold" rating and set a $19.00 target price on shares of Sweetgreen in a research note on Tuesday.

Insider Activity

In related news, Director Clifford Burrows acquired 19,200 shares of the stock in a transaction dated Friday, May 23rd. The shares were acquired at an average price of $13.11 per share, with a total value of $251,712.00. Following the acquisition, the director owned 19,200 shares in the company, valued at approximately $251,712. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mitch Reback sold 10,088 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.23, for a total value of $153,640.24. Following the transaction, the chief financial officer directly owned 334,421 shares in the company, valued at approximately $5,093,231.83. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.52% of the company's stock.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp grew its holdings in Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after buying an additional 4,474 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Sweetgreen by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock valued at $936,000 after buying an additional 1,278 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Sweetgreen by 54.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after buying an additional 5,783 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Sweetgreen by 50.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company's stock valued at $332,000 after buying an additional 4,474 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Sweetgreen by 400.1% in the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after buying an additional 47,676 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Trading Up 2.7%

SG traded up $0.40 during trading on Wednesday, reaching $14.80. 3,435,836 shares of the company were exchanged, compared to its average volume of 3,800,398. The stock has a market cap of $1.74 billion, a P/E ratio of -19.21 and a beta of 2.06. The firm has a 50 day moving average of $14.70 and a 200 day moving average of $22.55. Sweetgreen has a 52 week low of $11.86 and a 52 week high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting analysts' consensus estimates of ($0.21). The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $164.68 million. Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned ($0.23) earnings per share. As a group, analysts forecast that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

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.