Sweetgreen (NYSE:SG) Stock Price Down 6.4% – Time to Sell?

Shares of Sweetgreen, Inc. (NYSE:SG) dropped 6.4% on Tuesday . The stock traded as low as $25.80 and last traded at $25.44. Approximately 580,572 shares were traded during trading, a decline of 78% from the average daily volume of 2,683,992 shares. The stock had previously closed at $27.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SG shares. Citigroup reduced their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Oppenheimer cut their price objective on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Morgan Stanley cut their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, KeyCorp began coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.60.

Sweetgreen Stock Up 1.5 %

The stock has a fifty day moving average price of $31.73 and a 200-day moving average price of $34.41. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -30.26 and a beta of 2.37.

Insiders Place Their Bets

In other Sweetgreen news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $86,860,260. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicolas Jammet sold 14,551 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $654,795.00. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $86,860,485. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 550,577 shares of company stock worth $21,183,936. Company insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised 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 worth $33,000 after buying an additional 1,000 shares during the period. Hollencrest Capital Management purchased a new stake in shares of Sweetgreen during the 3rd quarter worth about $35,000. Headlands Technologies LLC raised its holdings in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after buying an additional 741 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after acquiring an additional 494 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Sweetgreen in the fourth quarter valued at about $53,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.