Sweetgreen (NYSE:SG) Shares Up 6.5%

Sweetgreen, Inc. (NYSE:SG)’s share price shot up 6.5% during trading on Tuesday . The company traded as high as $21.69 and last traded at $21.64. 241,845 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,161,066 shares. The stock had previously closed at $20.32.

Analysts Set New Price Targets

SG has been the topic of a number of recent research reports. Oppenheimer increased their price objective on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Royal Bank of Canada lifted their price objective on Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their price objective on Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. TD Cowen reissued a “hold” rating and set a $17.00 price target on shares of Sweetgreen in a report on Wednesday, April 10th. Finally, Morgan Stanley boosted their price objective on Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Sweetgreen Stock Performance

The stock has a market capitalization of $2.48 billion, a PE ratio of -22.01 and a beta of 2.19. The stock’s 50 day moving average is $19.55 and its two-hundred day moving average is $13.75.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The business had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $152.04 million. During the same period last year, the business earned ($0.44) earnings per share. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. Equities research analysts expect that Sweetgreen, Inc. will post -0.71 EPS for the current fiscal year.

Insider Activity at Sweetgreen

In other news, insider Adrienne Gemperle sold 4,286 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $12.32, for a total transaction of $52,803.52. Following the transaction, the insider now directly owns 139,693 shares in the company, valued at $1,721,017.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sweetgreen news, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction on Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $123,456.00. Following the transaction, the chief financial officer now owns 432,393 shares in the company, valued at approximately $5,188,716. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 4,286 shares of Sweetgreen stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.32, for a total transaction of $52,803.52. Following the completion of the transaction, the insider now owns 139,693 shares in the company, valued at approximately $1,721,017.76. The disclosure for this sale can be found here. Insiders sold a total of 140,555 shares of company stock valued at $2,214,389 over the last ninety days. Insiders own 22.03% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC acquired a new stake in shares of Sweetgreen in the 3rd quarter worth approximately $29,000. Compagnie Lombard Odier SCmA grew its position in Sweetgreen by 300.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company’s stock worth $94,000 after acquiring an additional 6,000 shares in the last quarter. Quest Partners LLC bought a new stake in Sweetgreen in the fourth quarter worth approximately $104,000. Clear Harbor Asset Management LLC bought a new stake in Sweetgreen in the fourth quarter worth approximately $113,000. Finally, Triumph Capital Management bought a new stake in shares of Sweetgreen during the 4th quarter worth $126,000. 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.