Analysts Set Sweetgreen, Inc. (NYSE:SG) Target Price at $39.80

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $39.80.

SG has been the topic of several research reports. UBS Group boosted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Piper Sandler restated a "neutral" rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. 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. TD Cowen reissued a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Finally, Bank of America raised their price target on Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, August 19th.

Sweetgreen Stock Down 8.7 %

Shares of SG stock traded down $3.28 during mid-day trading on Friday, reaching $34.46. 5,154,445 shares of the company's stock traded hands, compared to its average volume of 2,866,154. The company's 50-day moving average price is $38.37 and its 200-day moving average price is $33.39. The company has a market cap of $3.99 billion, a P/E ratio of -44.18 and a beta of 2.32. Sweetgreen has a 12 month low of $9.66 and a 12 month high of $45.12.

Insiders Place Their Bets

In related news, insider Nathaniel Ru sold 1,263 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $50,532.63. Following the completion of the sale, the insider now owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the transaction, the insider now directly owns 107,313 shares in the company, valued at $3,654,007.65. The trade was a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 470,639 shares of company stock valued at $18,379,124. 21.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Sweetgreen

Institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in Sweetgreen during the third quarter valued at $35,000. Quest Partners LLC bought a new position in shares of Sweetgreen in the second quarter worth about $76,000. KBC Group NV lifted its position in shares of Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after buying an additional 704 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Sweetgreen during the 3rd quarter valued at approximately $155,000. Finally, Canton Hathaway LLC purchased a new stake in Sweetgreen in the 3rd quarter worth approximately $177,000. Institutional investors 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.