Analysts Set Sweetgreen, Inc. (NYSE:SG) Target Price at $39.80

Shares of Sweetgreen, Inc. (NYSE:SG) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $39.80.

A number of analysts have commented on the company. Bank of America upped their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. UBS Group upped their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Finally, Oppenheimer upped their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

Sweetgreen Price Performance

NYSE:SG opened at $43.97 on Tuesday. Sweetgreen has a one year low of $9.21 and a one year high of $45.12. The business has a fifty day moving average price of $37.13 and a 200-day moving average price of $32.65. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of -56.37 and a beta of 2.32.

Insiders Place Their Bets

In other Sweetgreen news, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at $56,104,187.46. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the sale, the insider now directly owns 107,313 shares in the company, valued at $3,654,007.65. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,132 shares of company stock worth $5,993,464 in the last 90 days. 21.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently bought and sold shares of SG. Swiss National Bank grew its stake in shares of Sweetgreen by 0.9% in the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock worth $4,461,000 after buying an additional 1,500 shares in the last quarter. Sei Investments Co. bought a new stake in Sweetgreen during the first quarter worth approximately $1,110,000. ProShare Advisors LLC raised its position in Sweetgreen by 9.9% during the first quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after purchasing an additional 1,585 shares during the period. Blair William & Co. IL raised its position in Sweetgreen by 26.8% during the first quarter. Blair William & Co. IL now owns 13,140 shares of the company’s stock valued at $332,000 after purchasing an additional 2,774 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Sweetgreen by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after purchasing an additional 70,395 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

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.