Brokerages Set Sweetgreen, Inc. (NYSE:SG) Target Price at $39.40

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $39.40.

Several brokerages have weighed in on SG. UBS Group lifted their target price on Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a "sector weight" rating for the company. Oppenheimer lowered their target price on Sweetgreen from $45.00 to $41.00 and set an "outperform" rating on the stock in a report on Tuesday. The Goldman Sachs Group reissued a "neutral" rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Finally, TD Cowen reiterated a "buy" rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded up $0.24 during trading on Wednesday, hitting $32.18. 2,293,797 shares of the stock were exchanged, compared to its average volume of 2,428,699. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -41.26 and a beta of 2.38. The firm's 50-day moving average price is $37.06 and its 200 day moving average price is $33.61. Sweetgreen has a 12-month low of $9.66 and a 12-month high of $45.12.

Insiders Place Their Bets

In related news, CEO Jonathan Neman sold 1,010 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $40.01, for a total transaction of $40,410.10. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company's stock, valued at approximately $77,228,422.28. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adrienne Gemperle sold 5,372 shares of Sweetgreen 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 sale, the insider now directly owns 107,313 shares in the company, valued at approximately $3,654,007.65. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 640,838 shares of company stock valued at $24,800,733 in the last three months. Insiders own 21.52% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in shares of Sweetgreen by 12.4% in the second quarter. Bank of New York Mellon Corp now owns 361,354 shares of the company's stock valued at $10,891,000 after acquiring an additional 39,757 shares during the last quarter. Principal Financial Group Inc. increased its stake 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 buying an additional 205,519 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Sweetgreen in the second quarter valued at about $279,000. Natixis Advisors LLC acquired a new position in Sweetgreen during the 2nd quarter worth about $477,000. Finally, Rhumbline Advisers grew its holdings in Sweetgreen by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 141,344 shares of the company's stock worth $4,260,000 after acquiring an additional 5,301 shares during the last quarter. 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.