Sweetgreen (NYSE:SG) Trading Up 4% – Should You Buy?

Sweetgreen, Inc. (NYSE:SG)’s stock price was up 4% on Tuesday . The stock traded as high as $36.89 and last traded at $36.24. 437,482 shares changed hands during trading, a decline of 84% from the average daily volume of 2,811,516 shares. The stock had previously closed at $34.85.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. TD Cowen reaffirmed a “buy” rating and set a $43.00 target price on shares of Sweetgreen in a report on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on shares of Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Bank of America boosted their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. The Goldman Sachs Group assumed coverage on Sweetgreen in a research report on Thursday, June 13th. They set a “buy” rating and a $39.00 price target on the stock. Finally, Piper Sandler reiterated a “neutral” rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.20.

Sweetgreen Price Performance

The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -40.53 and a beta of 2.33. The company’s 50 day moving average is $32.64 and its 200 day moving average is $29.00.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. Sweetgreen’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. Sell-side analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Insider Activity

In related news, insider Adrienne Gemperle sold 3,868 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the sale, the insider now owns 114,842 shares in the company, valued at approximately $4,169,913.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the sale, the insider now owns 114,842 shares in the company, valued at $4,169,913.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Neman sold 17,020 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.08, for a total value of $597,061.60. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $67,712,398.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 426,061 shares of company stock valued at $15,071,720 in the last 90 days. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Conrad N. Hilton Foundation purchased a new position in shares of Sweetgreen in the fourth quarter worth approximately $434,000. Sei Investments Co. acquired a new position in shares of Sweetgreen during the 1st quarter valued at about $1,110,000. Vanguard Group Inc. raised its stake in shares of Sweetgreen by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after acquiring an additional 224,522 shares in the last quarter. Davidson Kempner Capital Management LP grew its holdings in Sweetgreen by 40.1% during the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after purchasing an additional 164,600 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Sweetgreen during the first quarter valued at approximately $490,000. Institutional investors own 95.75% of the company’s stock.

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.