Brokerages Set Sweetgreen, Inc. (NYSE:SG) Price Target at $40.60

Sweetgreen, Inc. (NYSE:SG) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $36.27.

SG has been the topic of a number of research analyst reports. Morgan Stanley cut their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. UBS Group cut their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. KeyCorp initiated coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Piper Sandler cut their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Citigroup cut their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nathaniel Ru sold 53,718 shares of Sweetgreen stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $38.70, for a total transaction of $2,078,886.60. Following the transaction, the insider now owns 1,952,129 shares of the company’s stock, valued at $75,547,392.30. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Neman sold 51,128 shares of Sweetgreen stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $38.60, for a total transaction of $1,973,540.80. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $74,506,800.80. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 365,971 shares of company stock valued at $13,747,290. 21.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds have recently modified their holdings of SG. Creative Planning lifted its position in shares of Sweetgreen by 61.7% during the 3rd quarter. Creative Planning now owns 11,439 shares of the company’s stock worth $406,000 after buying an additional 4,364 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sweetgreen by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after purchasing an additional 547,816 shares during the last quarter. Optas LLC increased its stake in shares of Sweetgreen by 9.1% during the 3rd quarter. Optas LLC now owns 16,778 shares of the company’s stock worth $595,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Sweetgreen by 670.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock worth $5,085,000 after purchasing an additional 124,813 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Up 7.6 %

Shares of Sweetgreen stock opened at $23.10 on Thursday. The business has a 50-day moving average price of $29.32 and a two-hundred day moving average price of $33.79. Sweetgreen has a 1-year low of $18.07 and a 1-year high of $45.12. The company has a market cap of $2.67 billion, a P/E ratio of -29.61 and a beta of 2.37.

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.