Sweetgreen (NYSE:SG) Price Target Cut to $41.00 by Analysts at Oppenheimer

Sweetgreen (NYSE:SG) had its target price dropped by research analysts at Oppenheimer from $45.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 16.94% from the company’s current price.

A number of other research firms also recently commented on SG. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. KeyCorp initiated coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. UBS Group boosted their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen restated a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.40.

Sweetgreen Trading Up 5.8 %

SG opened at $35.06 on Tuesday. Sweetgreen has a twelve month low of $9.66 and a twelve month high of $45.12. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -44.95 and a beta of 2.38. The company has a fifty day simple moving average of $37.19 and a 200 day simple moving average of $33.59.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This 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 640,838 shares of company stock worth $24,800,733 in the last three months. 21.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of SG. Driehaus Capital Management LLC raised its holdings in Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Sweetgreen during the second quarter valued at approximately $29,109,000. Stephens Investment Management Group LLC lifted its position in shares of Sweetgreen by 139.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after acquiring an additional 547,816 shares in the last quarter. Hood River Capital Management LLC boosted its stake in Sweetgreen by 42.6% in the 2nd quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after purchasing an additional 490,806 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after purchasing an additional 272,340 shares during the period. 95.75% of the stock is currently owned by institutional investors.

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.