Sweetgreen (NYSE:SG) Upgraded at Citigroup

Citigroup upgraded shares of Sweetgreen (NYSE:SG) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat.com reports. The brokerage currently has $49.00 price target on the stock, up from their previous price target of $44.00.

Other equities research analysts have also issued reports about the company. Oppenheimer decreased their price objective on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group lifted their target price 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. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.10.

Sweetgreen Stock Up 2.7 %

NYSE:SG opened at $33.11 on Friday. The stock has a fifty day simple moving average of $36.78 and a 200 day simple moving average of $33.69. The firm 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 1-year low of $9.66 and a 1-year high of $45.12.

Insiders Place Their Bets

In other news, insider Nathaniel Ru sold 1,263 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $50,532.63. Following the sale, the insider now directly owns 1,952,129 shares of the company’s stock, valued at approximately $78,104,681.29. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the transaction, the insider now directly owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. This represents a 8.82 % decrease in their position. 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 90 days. 21.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of SG. GLOBALT Investments LLC GA bought a new stake in shares of Sweetgreen during the third quarter valued at approximately $591,000. Oliver Luxxe Assets LLC bought a new stake in Sweetgreen in the 3rd quarter valued at $1,973,000. Verition Fund Management LLC raised its stake in shares of Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock valued at $6,151,000 after buying an additional 113,586 shares in the last quarter. Davidson Kempner Capital Management LP lifted its holdings in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after acquiring an additional 164,600 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new stake in Sweetgreen in the third quarter valued at about $3,329,000. Institutional investors own 95.75% of the company’s stock.

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.