Sweetgreen, Inc. (NYSE:SG) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $36.27.

A number of equities research analysts have recently commented on the company. Piper Sandler cut their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Citigroup cut their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada restated an "outperform" rating and set a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. TD Securities lowered their price target on Sweetgreen from $45.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st.

Sweetgreen Stock Performance

Shares of SG traded up $0.22 during mid-day trading on Monday, reaching $26.51. 2,629,294 shares of the company's stock traded hands, compared to its average volume of 3,095,410. The stock has a market capitalization of $3.11 billion, a P/E ratio of -33.99 and a beta of 2.44. Sweetgreen has a 12 month low of $18.77 and a 12 month high of $45.12. The business's 50-day moving average price is $26.92 and its 200-day moving average price is $32.96.

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Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 8,109 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the sale, the chief financial officer now directly owns 350,023 shares in the company, valued at $8,344,548.32. This represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares of the company's stock, valued at approximately $42,485,356.20. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,852 shares of company stock worth $1,052,177 over the last quarter. 21.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC raised its stake in shares of Sweetgreen by 91.9% in the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company's stock valued at $1,077,000 after acquiring an additional 14,545 shares during the period. Quest Partners LLC grew its stake in shares of Sweetgreen by 68.4% during the third quarter. Quest Partners LLC now owns 4,256 shares of the company's stock worth $151,000 after purchasing an additional 1,728 shares in the last quarter. Intech Investment Management LLC purchased a new position in Sweetgreen in the third quarter valued at $1,045,000. Charles Schwab Investment Management Inc. raised its stake in Sweetgreen by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company's stock valued at $29,432,000 after buying an additional 64,205 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Sweetgreen by 3.6% during the 3rd quarter. Cerity Partners LLC now owns 57,258 shares of the company's stock worth $2,030,000 after buying an additional 1,997 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.