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

Shares of Sweetgreen, Inc. (NYSE:SG) have received an average rating of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $39.80.

A number of research firms have recently commented on SG. Bank of America increased their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Oppenheimer boosted their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Finally, Citigroup boosted their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicolas Jammet sold 169,767 shares of Sweetgreen stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,565.59. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $69,044,434.41. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 441,715 shares of company stock valued at $15,856,543 in the last quarter. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC increased its stake in Sweetgreen by 231.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Sweetgreen during the first quarter worth about $29,105,000. Allspring Global Investments Holdings LLC bought a new stake in Sweetgreen during the 2nd quarter valued at approximately $33,449,000. Renaissance Technologies LLC purchased a new position in Sweetgreen in the 2nd quarter worth approximately $29,109,000. Finally, Baillie Gifford & Co. boosted its stake in Sweetgreen by 6.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after purchasing an additional 721,740 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Stock Performance

Shares of SG stock opened at $33.82 on Tuesday. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -43.36 and a beta of 2.32. Sweetgreen has a one year low of $9.21 and a one year high of $42.77. The company’s 50-day moving average is $36.35 and its 200 day moving average is $32.02.

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.