Sweetgreen (NYSE:SG) Trading 7.6% Higher – What’s Next?

Sweetgreen, Inc. (NYSE:SG)’s share price was up 7.6% on Monday . The company traded as high as $35.95 and last traded at $35.67. Approximately 1,760,081 shares traded hands during trading, a decline of 5% from the average daily volume of 1,860,416 shares. The stock had previously closed at $33.14.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SG shares. KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. UBS Group boosted 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. Oppenheimer increased their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Stock Up 5.8 %

The company has a market capitalization of $4.06 billion, a PE ratio of -44.95 and a beta of 2.32. The company’s 50 day moving average is $37.27 and its two-hundred day moving average is $33.55.

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Jammet sold 14,551 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $654,795.00. Following the completion of the sale, the insider now owns 1,930,233 shares in the company, valued at approximately $86,860,485. The trade was a 0.75 % 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

Large investors have recently modified their holdings of the company. Essex Investment Management Co. LLC raised its holdings in shares of Sweetgreen by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after purchasing an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its holdings in Sweetgreen by 0.7% in the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after purchasing an additional 474 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after buying an additional 537 shares during the last quarter. KBC Group NV boosted its holdings in shares of Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares in the last quarter. Finally, Pier Capital LLC grew its position in shares of Sweetgreen by 0.3% in the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock worth $10,399,000 after buying an additional 761 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.