Sweetgreen (NYSE:SG) Trading 6.9% Higher - Time to Buy?

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) traded up 6.9% during trading on Monday . The company traded as high as $12.91 and last traded at $13.12. 511,512 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 3,661,854 shares. The stock had previously closed at $12.27.

Analyst Upgrades and Downgrades

SG has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on Sweetgreen in a research report on Monday, June 16th. They set an "overweight" rating and a $19.00 price objective for the company. Oppenheimer reduced their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group reduced their price objective on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, June 4th. Morgan Stanley reduced their price objective on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, UBS Group reduced their price objective on Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.00.

Sweetgreen Stock Up 7.9%

The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -17.76 and a beta of 2.06. The business has a 50-day simple moving average of $15.25 and a two-hundred day simple moving average of $23.70.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting analysts' consensus estimates 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 19.72% and a negative net margin of 13.04%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) earnings per share. On average, analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of SG. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sweetgreen during the 4th quarter valued at $52,558,000. Invesco Ltd. raised its stake in Sweetgreen by 40.9% during the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock valued at $176,850,000 after purchasing an additional 1,601,666 shares during the period. Wellington Management Group LLP raised its stake in Sweetgreen by 30.0% during the 1st quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock valued at $144,180,000 after purchasing an additional 1,330,094 shares during the period. Champlain Investment Partners LLC acquired a new stake in Sweetgreen during the 1st quarter valued at $31,558,000. Finally, Durable Capital Partners LP raised its stake in Sweetgreen by 29.5% during the 1st quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company's stock valued at $113,218,000 after purchasing an additional 1,030,176 shares during the period. 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.