Sweetgreen (NYSE:SG) Shares Up 4.4% on Insider Buying Activity

Sweetgreen, Inc. (NYSE:SG - Get Free Report) was up 4.4% on Wednesday following insider buying activity. The stock traded as high as $13.01 and last traded at $13.16. Approximately 1,378,841 shares were traded during trading, a decline of 67% from the average daily volume of 4,227,038 shares. The stock had previously closed at $12.60.

Specifically, Director Clifford Burrows bought 19,200 shares of the stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $13.11 per share, with a total value of $251,712.00. Following the completion of the acquisition, the director now owns 19,200 shares in the company, valued at $251,712. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group lowered their target price on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, May 5th. The Goldman Sachs Group lowered their target price on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their target price on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Morgan Stanley lowered their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Sweetgreen presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Sweetgreen Stock Up 5.5%

The firm has a 50 day moving average price of $18.63 and a 200 day moving average price of $26.96. The stock has a market cap of $1.58 billion, a P/E ratio of -17.26 and a beta of 2.31.

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

Institutional Trading of Sweetgreen

Institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its position in shares of Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC grew its holdings in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after buying an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after buying an additional 494 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Sweetgreen during the 4th quarter valued at approximately $53,000. Finally, Denver PWM LLC purchased a new position in Sweetgreen during the 4th quarter valued at approximately $60,000. Hedge funds and other 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.