Sweetgreen (NYSE:SG) Given New $27.00 Price Target at Piper Sandler

Sweetgreen (NYSE:SG) had its price target reduced by Piper Sandler from $39.00 to $27.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also commented on the stock. TD Securities dropped their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer dropped their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. UBS Group lifted their price objective 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 initiated coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, Citigroup dropped their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Stock Performance

NYSE SG opened at $22.67 on Thursday. The firm has a market cap of $2.62 billion, a PE ratio of -29.07 and a beta of 2.37. Sweetgreen has a one year low of $12.32 and a one year high of $45.12. The firm’s fifty day moving average is $29.99 and its two-hundred day moving average is $34.09.

Insiders Place Their Bets

In related news, CEO Jonathan Neman sold 41,805 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.61, for a total transaction of $1,614,091.05. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $74,526,103.08. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the transaction, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 516,817 shares of company stock worth $19,677,637. 21.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently bought and sold shares of SG. Steward Partners Investment Advisory LLC increased its position in Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen in the third quarter worth $35,000. Headlands Technologies LLC increased its position in shares of Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after acquiring an additional 741 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after acquiring an additional 494 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen in the fourth quarter worth $53,000. 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.