Sweetgreen (NYSE:SG) Shares Gap Up Following Insider Buying Activity

Key Points

• Goldman Sachs bought 594,553 shares at an average $5.69 on April 7 (a 5.26% stake increase), and Sweetgreen stock gapped up premarket to open $6.05 from a $5.61 close, trading roughly 7.3% higher.
• Sweetgreen missed on results, reporting Q4 EPS of ($0.42) vs. ($0.31) expected and revenue of $155.19M vs. $159.59M, with negative ROE (32.26%) and net margin (-19.73%), and revenue down 3.5% year-over-year.
• Analysts are mixed: the consensus rating is Hold with a $7.84 average price target after several downgrades and target cuts.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) shares gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $5.61, but opened at $6.05. Sweetgreen shares last traded at $6.1080, with a volume of 651,259 shares.

Specifically, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the business's stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the acquisition, the insider owned 11,900,255 shares of the company's stock, valued at $67,712,450.95. The trade was a 5.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company downgraded Sweetgreen from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $10.00 to $7.00 in a report on Wednesday, December 17th. Royal Bank Of Canada cut their price target on Sweetgreen from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Friday, February 27th. Sanford C. Bernstein set a $7.00 price target on Sweetgreen in a report on Wednesday, January 7th. BNP Paribas Exane upgraded Sweetgreen to a "strong sell" rating in a report on Monday, March 30th. Finally, Citizens Jmp assumed coverage on Sweetgreen in a report on Monday, March 30th. They issued a "mkt underperform" rating and a $4.50 price target on the stock. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.84.

Sweetgreen Trading Up 7.3%

The stock has a market cap of $712.61 million, a price-to-earnings ratio of -5.33 and a beta of 1.90. The stock has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $6.54.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.11). The business had revenue of $155.19 million during the quarter, compared to analyst estimates of $159.59 million. Sweetgreen had a negative return on equity of 32.26% and a negative net margin of 19.73%.The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.25) EPS. Research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of Sweetgreen

A number of institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock worth $30,000 after acquiring an additional 2,349 shares during the period. Bogart Wealth LLC lifted its position in Sweetgreen by 1,150.0% during the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company's stock worth $40,000 after acquiring an additional 4,600 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company's stock worth $50,000 after acquiring an additional 3,484 shares during the period. CWM LLC lifted its position in Sweetgreen by 212.2% during the 4th quarter. CWM LLC now owns 7,333 shares of the company's stock worth $50,000 after acquiring an additional 4,984 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in Sweetgreen by 281.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company's stock worth $53,000 after acquiring an additional 5,839 shares during the period. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company's menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.

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