Sweetgreen (NYSE:SG) Now Covered by Barclays

Barclays began coverage on shares of Sweetgreen (NYSE:SG) in a research note published on Friday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $16.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Piper Sandler decreased their target price on Sweetgreen from $27.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Morgan Stanley lowered their target price on Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Oppenheimer reduced their price target on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group lowered their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus target price of $29.08.

Sweetgreen Stock Up 1.1%

Shares of Sweetgreen stock opened at $14.05 on Friday. Sweetgreen has a 12-month low of $12.37 and a 12-month high of $45.12. The stock has a market capitalization of $1.65 billion, a P/E ratio of -18.01 and a beta of 2.06. The company has a 50-day simple moving average of $17.46 and a 200 day simple moving average of $26.05.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) earnings per share. On average, equities analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current year.

Insider Transactions at Sweetgreen

In related news, Director Clifford Burrows bought 19,200 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $13.11 per share, with a total value of $251,712.00. Following the completion of the purchase, the director now owns 19,200 shares of the company’s stock, valued at $251,712. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the transaction, the director now owns 1,785,099 shares of the company’s stock, valued at $42,485,356.20. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,014 shares of company stock worth $736,283 in the last quarter. 21.52% of the stock is owned by company insiders.

Institutional Trading of Sweetgreen

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