Sweetgreen, Inc. (NYSE:SG) Given Average Rating of “Moderate Buy” by Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $39.40.

A number of brokerages have recently weighed in on SG. UBS Group boosted their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Oppenheimer lowered their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Finally, TD Cowen reiterated a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th.

Sweetgreen Stock Down 9.1 %

Shares of Sweetgreen stock opened at $31.76 on Wednesday. The business has a 50-day moving average price of $37.06 and a 200 day moving average price of $33.61. Sweetgreen has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The firm has a market cap of $3.67 billion, a P/E ratio of -40.72 and a beta of 2.38.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Nathaniel Ru sold 1,263 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $50,532.63. Following the sale, the insider now directly owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 640,838 shares of company stock worth $24,800,733. 21.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GLOBALT Investments LLC GA acquired a new stake in Sweetgreen in the 3rd quarter valued at about $591,000. Oliver Luxxe Assets LLC acquired a new stake in Sweetgreen during the third quarter valued at approximately $1,973,000. Verition Fund Management LLC boosted 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 buying an additional 113,586 shares in the last quarter. Davidson Kempner Capital Management LP boosted its holdings in Sweetgreen by 40.1% during the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after buying an additional 164,600 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in Sweetgreen in the third quarter worth approximately $3,329,000. Institutional investors own 95.75% of the company’s stock.

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.