Analysts Set Sweetgreen, Inc. (NYSE:SG) PT at $39.80

Shares of Sweetgreen, Inc. (NYSE:SG) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $39.80.

Several equities research analysts have recently commented on SG shares. TD Cowen reaffirmed a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. Finally, Oppenheimer lifted their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Sweetgreen Stock Performance

SG stock opened at $35.12 on Friday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -45.03 and a beta of 2.32. The business’s 50-day moving average is $38.37 and its two-hundred day moving average is $33.46. Sweetgreen has a fifty-two week low of $9.66 and a fifty-two week high of $45.12.

Insiders Place Their Bets

In other news, insider Adrienne Gemperle sold 5,372 shares of the business’s 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 transaction, the insider now owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the transaction, the insider now owns 1,760,034 shares of the company’s stock, valued at approximately $66,406,082.82. This represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 640,838 shares of company stock worth $24,800,733. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently made changes to their positions in SG. Hollencrest Capital Management purchased a new stake in Sweetgreen during the third quarter valued at $35,000. Quest Partners LLC purchased a new stake in shares of Sweetgreen during the 2nd quarter valued at about $76,000. KBC Group NV raised its position in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the period. Daiwa Securities Group Inc. bought a new stake in Sweetgreen in the third quarter worth $155,000. Finally, Canton Hathaway LLC bought a new stake in Sweetgreen in the third quarter worth $177,000. 95.75% of the stock is owned by 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.