Sweetgreen (NYSE:SG) Given New $20.00 Price Target at JPMorgan Chase & Co.

Sweetgreen (NYSE:SG) had its price objective reduced by JPMorgan Chase & Co. from $25.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 30.16% from the company’s previous close.

SG has been the subject of several other reports. TD Securities cut their target price on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Oppenheimer dropped their price target on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a report on Friday. UBS Group lowered their price objective on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Morgan Stanley dropped their target price on Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group lowered their target price on shares of Sweetgreen from $27.00 to $23.00 and set a “neutral” rating for the company in a report on Friday. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.73.

Sweetgreen Stock Up 0.9%

Shares of NYSE:SG traded up $0.14 during trading on Monday, reaching $15.37. The stock had a trading volume of 6,415,401 shares, compared to its average volume of 3,422,746. The stock has a fifty day simple moving average of $21.74 and a two-hundred day simple moving average of $29.40. Sweetgreen has a 52 week low of $14.61 and a 52 week high of $45.12. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -19.74 and a beta of 2.31.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.21). The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.23) EPS. On average, analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Buying and Selling

In related news, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $118,452.60. Following the sale, the chief operating officer now owns 95,516 shares of the company’s stock, valued at approximately $2,273,280.80. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mitch Reback sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total value of $84,280.00. Following the transaction, the chief financial officer now directly owns 344,509 shares of the company’s stock, valued at $7,258,804.63. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC grew its position in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC lifted its stake in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after purchasing an additional 494 shares during the period. Spire Wealth Management increased its position in Sweetgreen by 47.1% during the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after buying an additional 635 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Sweetgreen during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.