Sweetgreen (NYSE:SG) Price Target Lowered to $28.00 at Morgan Stanley

Sweetgreen (NYSE:SG) had its price objective decreased by Morgan Stanley from $32.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 16.38% from the company’s previous close.

SG has been the subject of a number of other research reports. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $49.00 in a research note on Friday, January 10th. KeyCorp assumed coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Oppenheimer cut their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, TD Cowen restated a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and an average target price of $41.20.

Sweetgreen Stock Performance

Sweetgreen stock opened at $33.49 on Tuesday. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of -42.93 and a beta of 2.38. Sweetgreen has a 52-week low of $10.07 and a 52-week high of $45.12. The firm has a 50 day moving average price of $35.92 and a two-hundred day moving average price of $33.86.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 1,010 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,228,422.28. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicolas Jammet sold 14,551 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $654,795.00. Following the transaction, the insider now owns 1,930,233 shares in the company, valued at approximately $86,860,485. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 648,838 shares of company stock valued at $25,065,773. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of SG. Janney Montgomery Scott LLC increased its holdings in Sweetgreen by 27.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company’s stock worth $375,000 after buying an additional 2,488 shares during the last quarter. Liberty One Investment Management LLC bought a new position in shares of Sweetgreen during the 4th quarter valued at approximately $582,000. Cypress Wealth Services LLC increased its stake in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after purchasing an additional 483 shares during the last quarter. Cox Capital Mgt LLC raised its holdings in shares of Sweetgreen by 76.0% in 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 during the period. Finally, PSI Advisors LLC lifted its stake in Sweetgreen by 64.0% in the fourth quarter. PSI Advisors LLC now owns 11,008 shares of the company’s stock valued at $353,000 after purchasing an additional 4,295 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

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.