The Goldman Sachs Group Cuts Sweetgreen (NYSE:SG) Price Target to $32.00

Sweetgreen (NYSE:SG) had its target price decreased by The Goldman Sachs Group from $37.00 to $32.00 in a research note published on Thursday, Marketbeat reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Oppenheimer cut their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. UBS Group raised their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley cut their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. KeyCorp began coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.27.

Sweetgreen Price Performance

Shares of SG opened at $22.67 on Thursday. The business’s fifty day moving average price is $29.99 and its 200 day moving average price is $34.09. Sweetgreen has a 12-month low of $12.32 and a 12-month high of $45.12. The stock has a market capitalization of $2.62 billion, a PE ratio of -29.07 and a beta of 2.37.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the transaction, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at $11,628,000.53. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicolas Jammet sold 170,199 shares of Sweetgreen 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 in the company, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 516,817 shares of company stock worth $19,677,637 over the last ninety days. 21.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake in 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 purchasing an additional 1,000 shares in the last quarter. Hollencrest Capital Management purchased a new position in Sweetgreen in the 3rd quarter worth about $35,000. Headlands Technologies LLC increased its stake in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after purchasing an additional 741 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after purchasing an additional 494 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Sweetgreen in the 4th quarter worth about $53,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.