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

Shares of Sweetgreen, Inc. (NYSE:SG) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $36.27.

A number of research analysts recently issued reports on SG shares. Morgan Stanley decreased their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Oppenheimer lowered their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Piper Sandler decreased their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, KeyCorp assumed coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating for the company.

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,810,263 shares in the company, valued at $43,084,259.40. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the transaction, the director now directly owns 1,785,099 shares in the company, valued at $42,485,356.20. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,852 shares of company stock worth $1,052,177 in the last quarter. 21.52% of the stock is owned by insiders.

Institutional Trading of Sweetgreen

Several institutional investors have recently added to or reduced their stakes in SG. Steward Partners Investment Advisory LLC lifted its position in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the period. Headlands Technologies LLC raised its stake in Sweetgreen by 156.0% during the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after buying an additional 741 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after buying an additional 494 shares during the period. Millstone Evans Group LLC bought a new stake in Sweetgreen during the fourth quarter valued at $53,000. Finally, Denver PWM LLC acquired a new stake in Sweetgreen during the 4th quarter worth about $60,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Stock Up 2.5 %

Shares of Sweetgreen stock opened at $26.33 on Monday. The firm’s 50-day moving average price is $26.92 and its two-hundred day moving average price is $32.96. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -33.75 and a beta of 2.44. Sweetgreen has a 12-month low of $18.77 and a 12-month high of $45.12.

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.