Sweetgreen Sees Unusually High Options Volume (NYSE:SG)

Sweetgreen, Inc. (NYSE:SGGet Free Report) was the recipient of some unusual options trading activity on Monday. Traders acquired 95,595 call options on the stock. This represents an increase of approximately 727% compared to the typical volume of 11,558 call options.

Insiders Place Their Bets

In other Sweetgreen news, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was acquired at an average price of $5.69 per share, for a total transaction of $3,383,006.57. Following the completion of the purchase, the insider directly owned 11,900,255 shares in the company, valued at approximately $67,712,450.95. The trade was a 5.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.19% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after purchasing an additional 2,349 shares during the last quarter. Certuity LLC lifted its position in shares of Sweetgreen by 0.8% during the 4th quarter. Certuity LLC now owns 302,500 shares of the company’s stock worth $2,045,000 after purchasing an additional 2,500 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Sweetgreen by 18.7% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 17,202 shares of the company’s stock worth $116,000 after purchasing an additional 2,715 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Sweetgreen by 26.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company’s stock worth $214,000 after purchasing an additional 2,987 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after purchasing an additional 3,484 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SG has been the subject of several research reports. Weiss Ratings upgraded shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. TD Cowen boosted their price target on shares of Sweetgreen from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, May 27th. Citizens Jmp assumed coverage on shares of Sweetgreen in a research note on Monday, March 30th. They issued a “mkt underperform” rating and a $4.50 price target for the company. Oppenheimer boosted their price objective on Sweetgreen from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Finally, DA Davidson boosted their price objective on Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Sweetgreen presently has an average rating of “Hold” and an average target price of $8.04.

View Our Latest Stock Report on SG

Sweetgreen Price Performance

Shares of Sweetgreen stock traded down $0.25 during trading on Monday, hitting $8.82. 4,647,550 shares of the stock were exchanged, compared to its average volume of 4,811,857. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 73.51 and a beta of 2.16. The firm’s 50-day moving average price is $7.46 and its 200 day moving average price is $6.71. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $16.70.

Sweetgreen (NYSE:SGGet Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.Sweetgreen’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm posted ($0.21) earnings per share. As a group, research analysts forecast that Sweetgreen will post -0.76 earnings per share for the current year.

About Sweetgreen

(Get Free Report)

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.

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