Oppenheimer Cuts Sweetgreen (NYSE:SG) Price Target to $41.00

Sweetgreen (NYSE:SG) had its target price lowered by Oppenheimer from $45.00 to $41.00 in a report released on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. TD Cowen reissued a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. UBS Group upped their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

Sweetgreen Trading Up 0.8 %

Shares of SG opened at $32.18 on Tuesday. The stock has a 50 day moving average of $36.87 and a 200 day moving average of $33.59. Sweetgreen has a 12 month low of $9.66 and a 12 month high of $45.12. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -41.26 and a beta of 2.38.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 14,745 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $86,860,260. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicolas Jammet sold 16,751 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total value of $670,710.04. Following the completion of the sale, the insider now owns 1,930,233 shares in the company, valued at $77,286,529.32. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,838 shares of company stock valued at $24,800,733 in the last quarter. 21.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.