Oppenheimer Issues Pessimistic Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SGFree Report) had its price objective cut by Oppenheimer from $45.00 to $41.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

SG has been the topic of several other reports. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. UBS Group lifted their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. TD Cowen reiterated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

Get Our Latest Stock Report on Sweetgreen

Sweetgreen Trading Up 0.8 %

Shares of NYSE:SG opened at $32.18 on Tuesday. The stock has a market capitalization of $3.72 billion, a P/E ratio of -41.26 and a beta of 2.38. The stock’s 50-day moving average price is $36.87 and its 200-day moving average price is $33.59. Sweetgreen has a 12-month low of $9.66 and a 12-month high of $45.12.

Insider Transactions at Sweetgreen

In related news, insider Nathaniel Ru sold 1,263 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $50,532.63. Following the completion of the transaction, the insider now directly owns 1,952,129 shares in the company, valued at $78,104,681.29. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares in the company, valued at $66,406,082.82. The trade was a 8.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 640,838 shares of company stock valued at $24,800,733. Company insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently made changes to their positions in the business. Diversified Trust Co grew its stake in shares of Sweetgreen by 223.2% in the 4th quarter. Diversified Trust Co now owns 27,126 shares of the company’s stock worth $870,000 after buying an additional 18,733 shares during the last quarter. Oliver Luxxe Assets LLC boosted its holdings in Sweetgreen by 3.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 57,841 shares of the company’s stock worth $1,854,000 after acquiring an additional 2,196 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Sweetgreen by 37.2% in the third quarter. JPMorgan Chase & Co. now owns 671,045 shares of the company’s stock worth $23,789,000 after acquiring an additional 181,805 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock worth $4,365,000 after purchasing an additional 103,664 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

About Sweetgreen

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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.

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