Sweetgreen, Inc. (NYSE:SG) Receives $40.60 Consensus Target Price from Analysts

Sweetgreen, Inc. (NYSE:SG) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $36.27.

A number of research analysts recently weighed in on SG shares. The Goldman Sachs Group reduced their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. KeyCorp started coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Morgan Stanley reduced 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. Finally, Oppenheimer reduced their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th.

Sweetgreen Stock Up 7.6 %

Shares of SG stock opened at $23.10 on Thursday. The company has a 50 day moving average of $29.32 and a 200-day moving average of $33.79. Sweetgreen has a 12-month low of $18.07 and a 12-month high of $45.12. The firm has a market cap of $2.67 billion, a P/E ratio of -29.61 and a beta of 2.37.

Insider Buying and Selling at Sweetgreen

In other news, insider Nathaniel Ru sold 53,718 shares of Sweetgreen stock in a transaction 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 completion of the sale, the insider now directly owns 1,952,129 shares of the company’s stock, valued at approximately $75,547,392.30. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at $9,093,373.65. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 365,971 shares of company stock valued at $13,747,290 in the last three months. Company insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Hollencrest Capital Management bought a new stake in Sweetgreen in the third quarter worth $35,000. Headlands Technologies LLC lifted its stake in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after purchasing an additional 741 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 purchasing an additional 494 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Sweetgreen in the fourth quarter worth $53,000. 95.75% of the stock is owned by institutional investors.

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.