Sweetgreen (NYSE:SG) Shares Gap Up to $26.05

Sweetgreen, Inc. (NYSE:SG) shares gapped up before the market opened on Tuesday . The stock had previously closed at $26.05, but opened at $26.89. Sweetgreen shares last traded at $26.58, with a volume of 179,497 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SG shares. Morgan Stanley upgraded Sweetgreen from an “underweight” rating to an “equal weight” rating and set a $25.00 target price on the stock in a report on Tuesday. The Goldman Sachs Group started coverage on Sweetgreen in a report on Thursday, June 13th. They set a “buy” rating and a $39.00 target price on the stock. William Blair restated an “outperform” rating on shares of Sweetgreen in a report on Wednesday, May 15th. Royal Bank of Canada raised their price target on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, TD Cowen lifted their target price on Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, June 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Sweetgreen Stock Down 0.5 %

The stock has a market capitalization of $2.94 billion, a PE ratio of -28.02 and a beta of 2.31. The firm has a 50 day moving average price of $29.88 and a 200 day moving average price of $21.43.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The business had revenue of $157.85 million for the quarter, compared to analysts’ expectations of $152.02 million. During the same period in the previous year, the business posted ($0.29) earnings per share. The business’s revenue was up 26.2% compared to the same quarter last year. On average, equities analysts forecast that Sweetgreen, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In related news, CTO Wouleta Ayele sold 2,748 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $31.35, for a total value of $86,149.80. Following the sale, the chief technology officer now owns 147,480 shares in the company, valued at approximately $4,623,498. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Wouleta Ayele sold 2,748 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.35, for a total transaction of $86,149.80. Following the completion of the transaction, the chief technology officer now owns 147,480 shares in the company, valued at $4,623,498. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,889 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.35, for a total transaction of $121,920.15. Following the completion of the sale, the insider now directly owns 125,518 shares of the company’s stock, valued at approximately $3,934,989.30. The disclosure for this sale can be found here. Insiders have sold 440,692 shares of company stock worth $13,738,038 over the last 90 days. Corporate insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after purchasing an additional 70,395 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Sweetgreen by 38.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after purchasing an additional 476,998 shares during the period. Hood River Capital Management LLC purchased a new stake in Sweetgreen during the first quarter worth approximately $29,105,000. Teca Partners LP grew its stake in Sweetgreen by 2.6% during the first quarter. Teca Partners LP now owns 769,200 shares of the company’s stock worth $19,430,000 after buying an additional 19,172 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Sweetgreen during the 4th quarter valued at $8,452,000. 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.