Sweetgreen (NYSE:SG) Price Target Lowered to $33.00 at TD Securities

Sweetgreen (NYSE:SG) had its price objective decreased by equities research analysts at TD Securities from $45.00 to $33.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 40.80% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Oppenheimer cut their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. KeyCorp started coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. Citigroup cut their price objective on Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, TD Cowen reiterated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.18.

Sweetgreen Stock Performance

Shares of SG stock opened at $23.44 on Thursday. Sweetgreen has a fifty-two week low of $11.31 and a fifty-two week high of $45.12. The firm has a market cap of $2.71 billion, a P/E ratio of -30.05 and a beta of 2.37. The business’s 50 day moving average price is $30.47 and its 200-day moving average price is $34.25.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were 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 approximately $11,628,000.53. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 41,999 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.68, for a total transaction of $1,624,521.32. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at approximately $74,661,412.44. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,817 shares of company stock worth $19,677,637 in the last 90 days. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in Sweetgreen by 3,571.4% during the 4th 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 last quarter. Hollencrest Capital Management bought a new position in shares of Sweetgreen during the third quarter valued at $35,000. Headlands Technologies LLC boosted its position in shares of Sweetgreen by 156.0% during the fourth 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 last quarter. Tower Research Capital LLC TRC increased 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 worth $50,000 after buying an additional 494 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Sweetgreen in the 4th quarter worth about $53,000. 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.