Sweetgreen (NYSE:SG) Stock Price Up 4.5% – Still a Buy?

Sweetgreen, Inc. (NYSE:SG)’s stock price traded up 4.5% during trading on Wednesday . The company traded as high as $6.67 and last traded at $6.8250. 1,179,108 shares changed hands during trading, a decline of 77% from the average session volume of 5,144,478 shares. The stock had previously closed at $6.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SG. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sweetgreen in a research report on Monday. Zacks Research upgraded shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. UBS Group decreased their price objective on Sweetgreen from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. William Blair reissued a “market perform” rating on shares of Sweetgreen in a research note on Friday, November 7th. Finally, Wells Fargo & Company lowered Sweetgreen from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $10.00 to $7.00 in a research note on Wednesday, December 17th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.68.

Sweetgreen Trading Up 3.5%

The company has a market cap of $800.18 million, a price-to-earnings ratio of -6.97 and a beta of 1.92. The stock has a 50 day moving average price of $6.57 and a two-hundred day moving average price of $9.19.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The company had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. During the same period last year, the firm earned ($0.18) earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts forecast that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman bought 179,800 shares of the stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $5.56 per share, with a total value of $999,688.00. Following the completion of the purchase, the chief executive officer owned 179,800 shares of the company’s stock, valued at approximately $999,688. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicolas Jammet bought 18,115 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the acquisition, the insider owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

A number of large investors have recently made changes to their positions in SG. Vanguard Group Inc. lifted its holdings in Sweetgreen by 1.4% during the third quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock worth $76,558,000 after acquiring an additional 129,572 shares in the last quarter. Spyglass Capital Management LLC raised its position in shares of Sweetgreen by 4.0% during the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock worth $32,371,000 after purchasing an additional 156,757 shares during the period. Greenhouse Funds LLLP lifted its holdings in shares of Sweetgreen by 82.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after purchasing an additional 1,788,175 shares in the last quarter. Marshall Wace LLP grew its position in shares of Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after purchasing an additional 3,667,306 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in Sweetgreen by 89.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company’s stock worth $38,205,000 after purchasing an additional 1,212,708 shares in the last quarter. 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.