Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $39.80.

A number of brokerages have recently issued reports on SG. Oppenheimer boosted their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Bank of America boosted their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. TD Cowen reaffirmed a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. UBS Group upped their price target on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nathaniel Ru sold 9,250 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. This trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 503,671 shares of company stock valued at $18,138,774 in the last three months. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its holdings in Sweetgreen by 6.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after acquiring an additional 721,740 shares in the last quarter. Vanguard Group Inc. raised its holdings in Sweetgreen by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after acquiring an additional 70,395 shares in the last quarter. Wellington Management Group LLP raised its holdings in Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after acquiring an additional 236,874 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Sweetgreen by 231.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after acquiring an additional 1,878,216 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock worth $80,224,000 after buying an additional 69,120 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Up 5.2 %

Shares of Sweetgreen stock opened at $43.40 on Tuesday. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of -55.64 and a beta of 2.32. The business has a fifty day simple moving average of $36.93 and a 200-day simple moving average of $32.44. Sweetgreen has a fifty-two week low of $9.21 and a fifty-two week high of $44.75.

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.