Morgan Stanley Has Lowered Expectations for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG - Get Free Report) had its price target cut by investment analysts at Morgan Stanley from $32.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential downside of 3.88% from the company's current price.

SG has been the subject of a number of other research reports. TD Cowen reiterated a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Oppenheimer dropped their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. UBS Group increased their target price 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. Citigroup raised shares of Sweetgreen from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $49.00 in a research note on Friday, January 10th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.20.

Sweetgreen Trading Down 4.5 %

Shares of SG traded down $1.37 during trading hours on Tuesday, reaching $29.13. 5,155,415 shares of the stock traded hands, compared to its average volume of 2,697,281. The company has a market cap of $3.37 billion, a P/E ratio of -37.35 and a beta of 2.38. The company's 50-day moving average price is $35.64 and its two-hundred day moving average price is $33.85. Sweetgreen has a 52-week low of $10.09 and a 52-week high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm had revenue of $173.43 million for the quarter, compared to analysts' expectations of $173.67 million. During the same quarter in the previous year, the business earned ($0.22) EPS. On average, research analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In related news, insider Nicolas Jammet sold 14,551 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $654,795.00. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at $86,860,485. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jonathan Neman sold 14,745 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the sale, the chief executive officer now directly owns 1,930,228 shares of the company's stock, valued at $86,860,260. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 648,838 shares of company stock valued at $25,065,773. Company insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors have recently added to or reduced their stakes in SG. GLOBALT Investments LLC GA acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $591,000. Oliver Luxxe Assets LLC acquired a new position in shares of Sweetgreen in the third quarter valued at about $1,973,000. Verition Fund Management LLC raised its stake in shares of Sweetgreen by 189.6% in the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company's stock worth $6,151,000 after purchasing an additional 113,586 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in shares of Sweetgreen during the third quarter worth about $3,329,000. Finally, Stephens Investment Management Group LLC boosted its position in 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. Institutional investors and hedge funds own 95.75% of the company's stock.

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.