Sweetgreen (NYSE:SG) Trading 5.2% Higher – Here’s What Happened

Sweetgreen, Inc. (NYSE:SG)’s stock price traded up 5.2% during mid-day trading on Thursday . The company traded as high as $35.78 and last traded at $35.38. 304,763 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,846,962 shares. The stock had previously closed at $33.63.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SG shares. KeyCorp started coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. UBS Group lifted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Finally, Oppenheimer raised their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Stock Up 1.1 %

The business’s 50-day moving average is $38.16 and its two-hundred day moving average is $33.54. The stock has a market capitalization of $4.06 billion, a PE ratio of -45.00 and a beta of 2.32.

Insider Activity

In other Sweetgreen news, insider Nathaniel Ru sold 1,263 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $50,532.63. Following the transaction, the insider now directly owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction on Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the transaction, the insider now directly owns 1,760,034 shares of the company’s stock, valued at approximately $66,406,082.82. This represents a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 640,838 shares of company stock valued at $24,800,733. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of hedge funds have recently added to or reduced their stakes in SG. Hollencrest Capital Management purchased a new position in shares of Sweetgreen in the 3rd quarter worth about $35,000. Quest Partners LLC purchased a new stake in Sweetgreen during the second quarter worth approximately $76,000. KBC Group NV raised its position in Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at about $155,000. Finally, Canton Hathaway LLC purchased a new position in Sweetgreen in the 3rd quarter worth approximately $177,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Company Profile

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.