Sweetgreen, Inc. (NYSE:SG) Receives $36.27 Consensus Price Target from Brokerages

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

A number of analysts have recently issued reports on SG shares. KeyCorp assumed coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. UBS Group lowered their price target on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Citigroup lowered 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, Oppenheimer reduced their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th.

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,852 shares of company stock valued at $1,052,177 in the last quarter. 21.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC increased its position 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. Cox Capital Mgt LLC grew its position in shares of Sweetgreen by 76.0% during the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock worth $1,728,000 after purchasing an additional 23,278 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Sweetgreen by 91.9% in the third quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after buying an additional 14,545 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Sweetgreen by 5.4% in the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after buying an additional 116,243 shares during the period. Finally, Diversified Trust Co grew its position in Sweetgreen by 223.2% during the fourth quarter. Diversified Trust Co now owns 27,126 shares of the company’s stock worth $870,000 after buying an additional 18,733 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Price Performance

SG stock opened at $26.33 on Monday. The stock has a market capitalization of $3.09 billion, a P/E ratio of -33.75 and a beta of 2.44. Sweetgreen has a fifty-two week low of $18.77 and a fifty-two week high of $45.12. The business has a 50-day moving average of $26.92 and a 200-day moving average of $32.96.

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.