Sweetgreen, Inc. (NYSE:SG) Receives $35.91 Average Price Target from Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $35.91.

Several research firms have issued reports on SG. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Tuesday, February 25th. Piper Sandler lowered their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Citigroup decreased their target price on Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Oppenheimer dropped their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th.

Sweetgreen Stock Up 3.6 %

Shares of SG opened at $19.12 on Friday. Sweetgreen has a twelve month low of $16.29 and a twelve month high of $45.12. The stock has a market cap of $2.24 billion, a PE ratio of -24.51 and a beta of 2.28. The business’s 50-day moving average price is $22.62 and its 200-day moving average price is $30.90.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the transaction, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at $9,093,373.65. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares of the company’s stock, valued at approximately $42,485,356.20. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its position in shares of Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC increased its holdings in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares during the period. Tower Research Capital LLC TRC raised its position in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after purchasing an additional 494 shares during the last quarter. Spire Wealth Management lifted its holdings in Sweetgreen by 47.1% in the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after buying an additional 635 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in shares of Sweetgreen in the 4th quarter worth approximately $53,000. 95.75% of the stock is currently owned by institutional investors.

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.