Sweetgreen (NYSE:SG) Price Target Lowered to $33.00 at TD Securities

Sweetgreen (NYSE:SG) had its price objective lowered by TD Securities from $45.00 to $33.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

SG has been the topic of a number of other research reports. KeyCorp initiated coverage on Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday. Citigroup reduced their target price on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. UBS Group boosted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley reduced their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Stock Up 0.4 %

Shares of SG stock opened at $23.23 on Thursday. The stock’s 50-day moving average price is $30.24 and its 200 day moving average price is $34.17. The stock has a market capitalization of $2.69 billion, a PE ratio of -29.78 and a beta of 2.37. Sweetgreen has a 52-week low of $11.84 and a 52-week high of $45.12.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the completion of the sale, the insider now directly owns 1,760,034 shares in the company, valued at $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the stock in a transaction 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 in the company, valued at approximately $9,093,373.65. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 516,817 shares of company stock valued at $19,677,637. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in Sweetgreen in the third quarter valued at approximately $35,000. Steward Partners Investment Advisory LLC boosted its holdings 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 valued at $33,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of 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 buying an additional 741 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after buying an additional 494 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Sweetgreen in the 4th quarter worth $53,000. 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.