Sweetgreen, Inc. (NYSE:SG) Receives $40.60 Average PT from Analysts

Sweetgreen, Inc. (NYSE:SG) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $36.27.

Several brokerages have recently weighed in on SG. Morgan Stanley reduced their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. KeyCorp began coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. The Goldman Sachs Group cut their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Citigroup reduced their target price on Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, TD Securities lowered their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th.

Insiders Place Their Bets

In other news, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction that occurred on 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 owns 1,760,034 shares of the company’s stock, 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, CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 433,013 shares of company stock worth $16,439,025. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several hedge funds have recently added to or reduced their stakes in the company. GLOBALT Investments LLC GA purchased a new position in Sweetgreen in the third quarter valued at approximately $591,000. Verition Fund Management LLC grew its holdings in Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after acquiring an additional 113,586 shares during the period. Stephens Investment Management Group LLC increased its holdings 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 purchasing an additional 547,816 shares in the last quarter. Cox Capital Mgt LLC grew its holdings in shares of Sweetgreen by 76.0% in the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock worth $1,728,000 after acquiring an additional 23,278 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Sweetgreen by 670.0% during the third quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock worth $5,085,000 after purchasing an additional 124,813 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Down 5.4 %

NYSE SG opened at $21.54 on Thursday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -27.62 and a beta of 2.37. Sweetgreen has a 52 week low of $16.42 and a 52 week high of $45.12. The company has a fifty day moving average of $29.76 and a two-hundred day moving average of $33.98.

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.