Sweetgreen, Inc. (NYSE:SG) Receives $39.40 Consensus PT from Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $41.10.

Several research analysts recently weighed in on the stock. Oppenheimer cut their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday. KeyCorp assumed coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Citigroup upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $49.00 in a research report on Friday. TD Cowen reiterated a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Finally, UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Sweetgreen Stock Up 2.7 %

Shares of NYSE SG opened at $33.11 on Wednesday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -42.45 and a beta of 2.38. Sweetgreen has a 52 week low of $9.66 and a 52 week high of $45.12. The firm has a 50-day moving average price of $36.78 and a 200 day moving average price of $33.62.

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $40,410.10. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $77,228,422.28. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of Sweetgreen stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the transaction, the insider now directly owns 107,313 shares of the company’s stock, valued at $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 640,838 shares of company stock valued at $24,800,733 over the last quarter. Corporate insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its holdings in Sweetgreen by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after acquiring an additional 314 shares during the period. Evolutionary Tree Capital Management LLC increased its stake in Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after acquiring an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after acquiring an additional 537 shares in the last quarter. KBC Group NV boosted its position in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after acquiring an additional 704 shares during the last quarter. Finally, Pier Capital LLC grew its holdings in shares of Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock worth $10,399,000 after purchasing an additional 761 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.