Insider Buying: Sweetgreen (NYSE:SG) Insider Buys $25,283.88 in Stock

Sweetgreen, Inc. (NYSE:SG) insider Nicolas Jammet acquired 4,428 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the acquisition, the insider owned 22,543 shares in the company, valued at approximately $128,720.53. The trade was a 24.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sweetgreen Stock Performance

NYSE:SG opened at $5.62 on Thursday. Sweetgreen, Inc. has a fifty-two week low of $4.99 and a fifty-two week high of $27.15. The company has a 50 day moving average price of $6.34 and a 200 day moving average price of $7.02. The stock has a market capitalization of $664.65 million, a P/E ratio of -4.93 and a beta of 1.93.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $159.59 million. During the same period in the previous year, the firm earned ($0.25) EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sweetgreen

Hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC grew its position in shares of Sweetgreen by 165.8% during the third 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. Bogart Wealth LLC lifted its stake in Sweetgreen by 1,150.0% in the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after acquiring an additional 4,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Sweetgreen by 312.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after acquiring an additional 2,127 shares in the last quarter. CWM LLC grew its holdings in Sweetgreen by 212.2% during the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after acquiring an additional 4,984 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position 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 valued at $53,000 after purchasing an additional 5,839 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research upgraded Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. UBS Group reduced their price target on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. The Goldman Sachs Group raised their price objective on shares of Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Wells Fargo & Company downgraded shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $10.00 to $7.00 in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada reduced their target price on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.22.

Sweetgreen Company Profile

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.