Sweetgreen (NYSE:SG) Given New $35.00 Price Target at Oppenheimer

Sweetgreen (NYSE:SG) had its price target trimmed by Oppenheimer from $41.00 to $35.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Citigroup cut their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. TD Cowen reissued a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. TD Securities decreased their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, KeyCorp initiated coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.27.

Sweetgreen Price Performance

Sweetgreen stock opened at $23.23 on Thursday. The stock has a market capitalization of $2.69 billion, a PE ratio of -29.78 and a beta of 2.37. The business has a 50 day simple moving average of $30.24 and a 200-day simple moving average of $34.17. Sweetgreen has a 12 month low of $11.84 and a 12 month high of $45.12.

Insider Activity at Sweetgreen

In related news, insider Nicolas Jammet sold 41,999 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 1,930,233 shares in the company, valued at approximately $74,661,412.44. This trade represents a 2.13 % 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, CEO Jonathan Neman sold 41,805 shares of Sweetgreen stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.61, for a total transaction of $1,614,091.05. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $74,526,103.08. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 516,817 shares of company stock valued at $19,677,637. 21.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SG. Steward Partners Investment Advisory LLC raised its position 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 valued at $33,000 after purchasing an additional 1,000 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen during the 3rd quarter worth about $35,000. Headlands Technologies LLC raised its holdings in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after buying an additional 741 shares during the period. Tower Research Capital LLC TRC raised its holdings in Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after buying an additional 494 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in Sweetgreen in the fourth quarter valued at about $53,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.