Sweetgreen (NYSE:SG) Stock Price Up 4.1% – Still a Buy?

Shares of Sweetgreen, Inc. (NYSE:SG) shot up 4.1% on Friday . The company traded as high as $7.09 and last traded at $7.07. 337,915 shares were traded during trading, a decline of 93% from the average daily volume of 5,075,442 shares. The stock had previously closed at $6.79.

Analyst Ratings Changes

Several research firms have commented on SG. BNP Paribas Exane upped their price objective on shares of Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a report on Friday, May 8th. Oppenheimer decreased their price target on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Wall Street Zen raised shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Sunday, August 16th. Weiss Ratings cut Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, Citigroup decreased their target price on Sweetgreen from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Sweetgreen currently has a consensus rating of “Hold” and a consensus price target of $7.10.

Sweetgreen Stock Up 4.3%

The stock has a fifty day moving average price of $7.07 and a two-hundred day moving average price of $6.82. The company has a market cap of $842.81 million, a price-to-earnings ratio of 70.81 and a beta of 2.19.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The firm had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts predict that Sweetgreen, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Jamie Mcconnell sold 15,033 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the transaction, the chief financial officer directly owned 210,489 shares in the company, valued at approximately $1,307,136.69. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jason Miles Cochran sold 4,809 shares of Sweetgreen stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $29,863.89. Following the sale, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. The trade was a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its stake in Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after buying an additional 2,349 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Sweetgreen during the 1st quarter valued at about $38,000. CWM LLC lifted its position in Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after buying an additional 4,984 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after acquiring an additional 5,839 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Sweetgreen by 241.5% during the second quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock valued at $93,000 after buying an additional 7,438 shares during the period. Institutional investors own 95.75% of the company’s stock.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.