Sweetgreen (NYSE:SG) Stock Price Down 7.7% – Should You Sell?

Sweetgreen, Inc. (NYSE:SG)’s share price fell 7.7% during trading on Monday . The stock traded as low as $9.29 and last traded at $9.1950. 2,744,808 shares changed hands during trading, a decline of 41% from the average session volume of 4,666,392 shares. The stock had previously closed at $9.96.

Analysts Set New Price Targets

A number of research firms have issued reports on SG. Citizens Jmp began coverage on Sweetgreen in a research note on Monday, March 30th. They set a “mkt underperform” rating and a $4.50 price target for the company. DA Davidson boosted their price target on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. TD Cowen boosted their price target on Sweetgreen from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $13.00 in a research note on Friday, May 22nd. Finally, Wall Street Zen upgraded Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Sweetgreen currently has a consensus rating of “Hold” and a consensus price target of $8.04.

Sweetgreen Stock Performance

The stock has a fifty day moving average of $6.83 and a 200 day moving average of $6.55. The company has a market capitalization of $1.09 billion, a PE ratio of 76.38 and a beta of 2.15.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The business had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $163.95 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts predict that Sweetgreen, Inc. will post -0.76 EPS for the current year.

Insider Buying and Selling

In other Sweetgreen news, insider Nicolas Jammet purchased 4,428 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $5.71 per share, with a total value of $25,283.88. Following the acquisition, the insider owned 22,543 shares in the company, valued at approximately $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was acquired at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the completion of the acquisition, the insider owned 11,900,255 shares in the company, valued at $67,712,450.95. This represents a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 18.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in Sweetgreen by 165.8% in 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 in the last quarter. Fifth Third Bancorp bought a new stake in Sweetgreen in the 1st quarter worth approximately $38,000. Skandinaviska Enskilda Banken AB publ increased its stake in Sweetgreen by 124.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after acquiring an additional 3,484 shares during the last quarter. CWM LLC increased its stake in Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after acquiring an additional 4,984 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after acquiring an additional 5,839 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Company Profile

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.