Sweetgreen, Inc. (NYSE:SG) Receives $39.40 Average PT from Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $41.10.

Several brokerages recently issued reports on SG. Oppenheimer reduced their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday. TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $49.00 in a research report on Friday. KeyCorp assumed coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, 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.

Insider Buying and Selling

In other Sweetgreen news, insider Nathaniel Ru sold 1,263 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 $50,532.63. Following the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at $78,104,681.29. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 approximately $66,406,082.82. This represents a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 640,838 shares of company stock worth $24,800,733. 21.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Driehaus Capital Management LLC grew its position in shares of Sweetgreen by 231.8% during the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after acquiring an additional 1,878,216 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Sweetgreen during the 2nd quarter worth $29,109,000. Stephens Investment Management Group LLC raised its holdings in shares of Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after buying an additional 547,816 shares during the last quarter. Hood River Capital Management LLC raised its stake in Sweetgreen by 42.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock valued at $49,521,000 after acquiring an additional 490,806 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after purchasing an additional 272,340 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Up 2.7 %

NYSE SG opened at $33.11 on Wednesday. Sweetgreen has a 12-month low of $9.66 and a 12-month high of $45.12. The firm’s fifty day simple moving average is $36.78 and its two-hundred day simple moving average is $33.62. The firm has a market capitalization of $3.83 billion, a P/E ratio of -42.45 and a beta of 2.38.

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.