Sweetgreen (NYSE:SG) Price Target Lowered to $41.00 at Oppenheimer

Sweetgreen (NYSE:SG) had its price objective lowered by investment analysts at Oppenheimer from $45.00 to $41.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 27.41% from the company’s current price.

A number of other research analysts have also issued reports on the stock. UBS Group upped their price target 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. TD Cowen reissued a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Finally, KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.40.

Sweetgreen Trading Up 0.8 %

Shares of SG stock opened at $32.18 on Tuesday. The stock has a fifty day simple moving average of $36.95 and a two-hundred day simple moving average of $33.60. Sweetgreen has a twelve month low of $9.66 and a twelve month high of $45.12. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -41.26 and a beta of 2.38.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 1,010 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adrienne Gemperle sold 5,372 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 640,838 shares of company stock worth $24,800,733 in the last quarter. 21.52% of the stock is owned by company insiders.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of Sweetgreen by 12.4% during the second quarter. Bank of New York Mellon Corp now owns 361,354 shares of the company’s stock worth $10,891,000 after buying an additional 39,757 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sweetgreen by 1,610.4% in the second quarter. Principal Financial Group Inc. now owns 218,281 shares of the company’s stock valued at $6,579,000 after purchasing an additional 205,519 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Sweetgreen during the second quarter worth approximately $279,000. Natixis Advisors LLC acquired a new stake in shares of Sweetgreen during the second quarter worth $477,000. Finally, Rhumbline Advisers lifted its holdings in shares of Sweetgreen by 3.9% during the second quarter. Rhumbline Advisers now owns 141,344 shares of the company’s stock worth $4,260,000 after purchasing an additional 5,301 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.