Sweetgreen (NYSE:SG) Trading Down 7.8% – What’s Next?

Sweetgreen, Inc. (NYSE:SG) shares fell 7.8% on Monday . The stock traded as low as $6.71 and last traded at $6.5440. 717,607 shares were traded during trading, a decline of 83% from the average session volume of 4,166,019 shares. The stock had previously closed at $7.10.

Analyst Upgrades and Downgrades

A number of analysts have commented on SG shares. Royal Bank Of Canada cut their price target on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Piper Sandler dropped their price objective on Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. UBS Group cut their target price on Sweetgreen from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Barclays lifted their target price on Sweetgreen from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Sweetgreen currently has a consensus rating of “Hold” and a consensus target price of $7.84.

Sweetgreen Price Performance

The firm has a fifty day simple moving average of $5.88 and a 200-day simple moving average of $6.36. The firm has a market cap of $821.50 million, a P/E ratio of -6.07 and a beta of 2.03.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The firm had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. During the same quarter in the prior year, the firm earned ($0.25) EPS. The company’s revenue was down 3.5% compared to the same quarter last year. On average, equities analysts predict that Sweetgreen, Inc. will post -0.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nicolas Jammet acquired 4,428 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was purchased at an average cost of $5.71 per share, with a total value of $25,283.88. Following the acquisition, the insider owned 22,543 shares of the company’s stock, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Goldman Sachs Group Inc acquired 594,553 shares of the stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the purchase, the insider owned 11,900,255 shares of the company’s stock, valued at approximately $67,712,450.95. The trade was a 5.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in shares of Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares during the last quarter. Bogart Wealth LLC increased its stake in Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after buying an additional 4,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after buying an additional 3,484 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Sweetgreen in the 1st quarter worth approximately $38,000. Finally, CWM LLC boosted its stake in shares of 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. 95.75% of the stock is currently owned by institutional investors.

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.