Sweetgreen (NYSE:SG) Trading Down 5.8% – Should You Sell?

Shares of Sweetgreen, Inc. (NYSE:SG) traded down 5.8% on Monday . The stock traded as low as $33.05 and last traded at $33.05. 429,963 shares changed hands during trading, a decline of 85% from the average session volume of 2,844,566 shares. The stock had previously closed at $35.10.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SG shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. KeyCorp began coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Oppenheimer raised their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. TD Cowen reiterated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Finally, UBS Group raised their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Stock Up 0.5 %

The company has a market cap of $3.85 billion, a price-to-earnings ratio of -42.70 and a beta of 2.32. The firm has a 50 day moving average price of $37.94 and a two-hundred day moving average price of $33.54.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the transaction, the insider now directly owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. The trade was a 8.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nathaniel Ru sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $50,532.63. Following the sale, the insider now directly owns 1,952,129 shares of the company’s stock, valued at $78,104,681.29. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 640,838 shares of company stock valued at $24,800,733. 21.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Calamos Advisors LLC bought a new position in Sweetgreen in the second quarter worth approximately $289,000. Bank of New York Mellon Corp increased its stake in Sweetgreen by 12.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 361,354 shares of the company’s stock valued at $10,891,000 after purchasing an additional 39,757 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Sweetgreen during the second quarter worth $33,449,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sweetgreen by 51.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,891 shares of the company’s stock valued at $690,000 after buying an additional 7,751 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of Sweetgreen by 64.4% during the second quarter. Panagora Asset Management Inc. now owns 297,327 shares of the company’s stock valued at $8,961,000 after buying an additional 116,459 shares during the last quarter. Institutional investors and hedge funds 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.