Oppenheimer Issues Pessimistic Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG) had its target price decreased by research analysts at Oppenheimer from $41.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 49.34% from the company’s previous close.

A number of other equities analysts have also recently commented on SG. KeyCorp assumed coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Securities dropped their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen restated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Finally, Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.55.

Sweetgreen Stock Performance

SG stock opened at $23.44 on Thursday. The company has a market capitalization of $2.71 billion, a PE ratio of -30.05 and a beta of 2.37. Sweetgreen has a one year low of $11.31 and a one year high of $45.12. The company’s 50 day moving average price is $30.47 and its two-hundred day moving average price is $34.25.

Insider Activity at Sweetgreen

In other news, insider Nicolas Jammet sold 41,999 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.68, for a total transaction of $1,624,521.32. Following the sale, the insider now owns 1,930,233 shares in the company, valued at approximately $74,661,412.44. The trade was a 2.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mitch Reback sold 8,000 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 350,981 shares in the company, valued at $11,628,000.53. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 516,817 shares of company stock worth $19,677,637 over the last ninety days. 21.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. grew its stake in shares of Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock worth $336,000 after buying an additional 473 shares during the last quarter. Cypress Wealth Services LLC grew its stake in shares of Sweetgreen by 6.1% in the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after acquiring an additional 483 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after acquiring an additional 494 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after acquiring an additional 537 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Sweetgreen by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock worth $1,608,000 after purchasing an additional 600 shares during the last quarter. Institutional investors 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.