Sweetgreen, Inc. (NYSE:SG - Get Free Report) COO Jason Miles Cochran sold 4,809 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $29,863.89. Following the transaction, the chief operating officer owned 207,076 shares of the company's stock, valued at approximately $1,285,941.96. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Sweetgreen Trading Down 0.7%
SG stock opened at $5.84 on Wednesday. The firm has a 50 day simple moving average of $7.36 and a 200-day simple moving average of $6.79. The company has a market capitalization of $695.20 million, a P/E ratio of 58.41 and a beta of 2.20. Sweetgreen, Inc. has a twelve month low of $4.49 and a twelve month high of $10.63.
Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.09). Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The company had revenue of $192.66 million during the quarter, compared to analyst estimates of $194.50 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The company's revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that Sweetgreen, Inc. will post -0.98 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have recently commented on SG. KeyCorp reaffirmed a "sector weight" rating on shares of Sweetgreen in a research report on Monday, August 10th. Citigroup cut their price objective on Sweetgreen from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. TD Cowen reduced their target price on Sweetgreen from $8.00 to $5.00 and set a "hold" rating on the stock in a report on Friday, August 7th. Weiss Ratings lowered Sweetgreen from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company lowered their price target on Sweetgreen from $7.00 to $6.00 and set an "equal weight" rating for the company in a 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.10.
Get Our Latest Research Report on SG
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Sweetgreen during the second quarter worth about $2,792,000. Versant Capital Management Inc lifted its holdings in Sweetgreen by 241.5% in the second quarter. Versant Capital Management Inc now owns 10,518 shares of the company's stock worth $93,000 after acquiring an additional 7,438 shares during the last quarter. Eastern Bank boosted its stake in Sweetgreen by 29.1% in the second quarter. Eastern Bank now owns 25,224 shares of the company's stock valued at $222,000 after acquiring an additional 5,693 shares during the period. Quantinno Capital Management LP boosted its stake in Sweetgreen by 495.3% in the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company's stock valued at $1,006,000 after acquiring an additional 161,209 shares during the period. Finally, SummitTX Capital L.P. bought a new position in shares of Sweetgreen during the first quarter valued at approximately $98,000. 95.75% of the stock is owned by institutional investors and hedge funds.
About Sweetgreen
(
Get Free Report)
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.
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