Sweetgreen (NYSE:SG) Given “Neutral” Rating at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Sweetgreen (NYSE:SG) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has a $40.00 price objective on the stock.

Several other analysts also recently weighed in on the company. Oppenheimer raised their target price on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Bank of America lifted their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Morgan Stanley increased their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, UBS Group increased their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Trading Down 5.9 %

NYSE:SG traded down $2.51 during mid-day trading on Friday, hitting $39.69. The company had a trading volume of 11,646,145 shares, compared to its average volume of 2,871,673. The business has a fifty day simple moving average of $35.59 and a 200-day simple moving average of $31.34. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -48.40 and a beta of 2.32. Sweetgreen has a 1 year low of $8.64 and a 1 year high of $42.77.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. During the same period last year, the firm posted ($0.20) earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. As a group, research analysts anticipate that Sweetgreen will post -0.75 earnings per share for the current year.

Insider Activity

In other news, insider Nicolas Jammet sold 16,751 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total transaction of $670,710.04. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at approximately $77,286,529.32. 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 accessible through the SEC website. In related news, insider Nicolas Jammet sold 16,751 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total value of $670,710.04. Following the completion of the transaction, the insider now directly owns 1,930,233 shares of the company’s stock, valued at $77,286,529.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Wouleta Ayele sold 2,831 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 $102,793.61. Following the sale, the chief technology officer now directly owns 144,649 shares in the company, valued at $5,252,205.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 466,022 shares of company stock valued at $16,671,481. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of SG. Baillie Gifford & Co. grew its position in Sweetgreen by 6.2% during the second quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after purchasing an additional 721,740 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after acquiring an additional 70,395 shares in the last quarter. Driehaus Capital Management LLC increased its stake in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after acquiring an additional 1,878,216 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sweetgreen by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock worth $53,151,000 after acquiring an additional 39,823 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of Sweetgreen by 42.6% during the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after acquiring an additional 490,806 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.