The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sweetgreen Inc. shares valued at $49,347 were sold by Gemperle Adrienne on Feb 17. At $9.14 per share, Gemperle Adrienne sold 5,399 shares. The insider’s holdings dropped to 144,375 shares worth approximately $1.2 million following the completion of this transaction.
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Also, McPhail James sold 7,067 shares, netting a total of over 69,469 in proceeds. Following the sale of shares at $9.83 each, the insider now holds 143,433 shares.
Before that, Carr Chris had sold 5,804 shares from its account. In a trade valued at $57,053, the Chief Operating Officer traded Sweetgreen Inc. shares for $9.83 each. Upon closing the transaction, the insider’s holdings decreased to 5,804 shares, worth approximately $1.26 million.
As published in a research note from Cowen on February 07, 2023, Sweetgreen Inc. [SG] has been rated down from an Outperform to a Market perform and the price target has been revised to $12 from $19. This represents a 31.0% premium over Thursday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid January. As of June 27, 2022, BofA Securities has initiated its “Neutral” rating for SG. Earlier on June 15, 2022, Cowen resumed its rating. Their recommendation was “an Outperform” for SG stock.
Analyzing SG Stock Performance
On Thursday, Sweetgreen Inc. [NYSE: SG] plunged -0.36% to $8.28. The stock’s lowest price that day was $7.93, but it reached a high of $8.36 in the same session. During the last five days, there has been a drop of approximately -10.87%. Over the course of the year, Sweetgreen Inc. shares have dropped approximately -3.38%. Shares of the company reached a 52-week high of $11.81 on 02/02/23 and a 52-week low of $7.81 on 01/06/23. A 50-day SMA is recorded $9.46, while a 200-day SMA reached $14.56. Nevertheless, trading volume fell to 1.91 million shares from 1.43 million shares the previous day.
Support And Resistance Levels for Sweetgreen Inc. (SG)
According to the 24-hour chart, there is a support level at 8.02, which, if violated, would cause prices to drop to 7.76. In the upper region, resistance lies at 8.45. The next price resistance is at 8.62. RSI (Relative Strength Index) is 35.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.84, which suggests the price will decrease in the coming days. Percent R is at 84.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Sweetgreen Inc. subject to short interest?
Stocks of Sweetgreen Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -6.25 million shares to 9.69 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 15.94 million shares. A decline of -64.5% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.87 of the overall float, the days-to-cover ratio (short ratio) decline to 5.87.
Which companies own the most shares of Sweetgreen Inc. (SG)?
According to Fidelity Management & Research Co filings, the company currently owns 13,872,419 shares, which is about 14.25% of the total SG shares outstanding. The investor’s shares have appreciated by 83,393 from its previous 13-F filing of 13789026.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $77,179,399. T. Rowe Price Associates, Inc. reduced a -42.87% interest valued at $77.12 million while Baillie Gifford & Co. purchased a 3,141,070 stake. A total of 4,058,823 shares of Sweetgreen Inc. were bought by BlackRock Fund Advisors during the quarter, and 0 by Anchorage Capital Group LLC. In its current portfolio, Lone Pine Capital LLC holds 4,556,503 shares valued at $47.25 million.
In terms of Sweetgreen Inc. share price expectations, FactSet research, analysts set an average price target of $11.57 in the next 12 months, up nearly 20.34% from the previous closing price of $8.31. Analysts anticipate Sweetgreen Inc. stock to reach $17.00 by 2023, with the lowest price target being $10.00. In spite of this, 8 analysts ranked Sweetgreen Inc. stock as an Overweight at the end of 2023. On April 12, 2022, Citigroup assigned a price target of “a Neutral” to the stock and initiated coverage with a $32.