Sweetgreen (NYSE:SG) Shares Down 3.6% - What's Next?

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) traded down 3.6% on Thursday . The company traded as low as $13.10 and last traded at $13.01. 1,315,829 shares were traded during trading, a decline of 63% from the average session volume of 3,521,902 shares. The stock had previously closed at $13.50.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. The Goldman Sachs Group cut their price objective on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a report on Friday, May 9th. TD Securities restated a "buy" rating and set a $25.00 price objective on shares of Sweetgreen in a research report on Thursday, May 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $45.00 target price on shares of Sweetgreen in a research note on Tuesday, February 25th. Morgan Stanley dropped their price objective on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Finally, Citigroup lowered their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Sweetgreen Stock Performance

The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -17.26 and a beta of 2.31. The business's 50 day moving average is $18.63 and its 200 day moving average is $26.96.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.23) EPS. Research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clifford Burrows bought 19,200 shares of the stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the purchase, the director now owns 19,200 shares of the company's stock, valued at $251,712. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 35,014 shares of company stock worth $736,283 in the last three months. Insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

A number of large investors have recently modified their holdings of SG. Janney Montgomery Scott LLC raised its position in Sweetgreen by 27.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company's stock worth $375,000 after purchasing an additional 2,488 shares during the last quarter. KBC Group NV boosted its stake in shares of Sweetgreen by 65.0% in the 4th quarter. KBC Group NV now owns 5,161 shares of the company's stock worth $165,000 after buying an additional 2,034 shares during the last quarter. Deepwater Asset Management LLC purchased a new position in shares of Sweetgreen in the 4th quarter worth approximately $13,695,000. Calamos Advisors LLC raised its holdings in shares of Sweetgreen by 16.5% in the 4th quarter. Calamos Advisors LLC now owns 79,815 shares of the company's stock worth $2,559,000 after purchasing an additional 11,275 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sweetgreen in the 4th quarter worth approximately $62,000. Institutional investors and hedge funds 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.