Sweetgreen (NYSE:SG) Now Covered by KeyCorp

KeyCorp began coverage on shares of Sweetgreen (NYSE:SG) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued a sector weight rating on the stock.

A number of other research analysts have also issued reports on SG. UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Oppenheimer lifted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Trading Up 6.0 %

Shares of SG stock opened at $38.81 on Wednesday. Sweetgreen has a 12-month low of $9.66 and a 12-month high of $45.12. The business’s 50 day moving average is $38.28 and its two-hundred day moving average is $33.33. The company has a market capitalization of $4.49 billion, a P/E ratio of -49.76 and a beta of 2.32.

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman sold 1,010 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adrienne Gemperle sold 5,372 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the transaction, the insider now owns 107,313 shares in the company, valued at $3,654,007.65. The trade was 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 508,934 shares of company stock worth $19,722,939 in the last ninety days. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in SG. GLOBALT Investments LLC GA purchased a new position in Sweetgreen in the third quarter worth approximately $591,000. Oliver Luxxe Assets LLC acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $1,973,000. Verition Fund Management LLC grew its holdings in shares of Sweetgreen by 189.6% during the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after purchasing an additional 113,586 shares during the period. Davidson Kempner Capital Management LP grew its holdings in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after purchasing an additional 164,600 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Sweetgreen during the 3rd quarter worth about $3,329,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

About Sweetgreen

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.