Sweetgreen (NYSE:SG) Given New $32.00 Price Target at The Goldman Sachs Group

Sweetgreen (NYSE:SG - Get Free Report) had its target price lowered by research analysts at The Goldman Sachs Group from $37.00 to $32.00 in a research report issued on Thursday, MarketBeat reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 48.56% from the stock's current price.

A number of other brokerages have also issued reports on SG. Citigroup decreased their price target on Sweetgreen from $49.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a "sector weight" rating for the company. UBS Group boosted 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, TD Cowen reissued a "buy" rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.27.

Sweetgreen Stock Down 5.4 %

NYSE:SG traded down $1.22 during mid-day trading on Thursday, hitting $21.54. 6,506,259 shares of the stock traded hands, compared to its average volume of 3,612,138. Sweetgreen has a 52 week low of $16.42 and a 52 week high of $45.12. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -27.62 and a beta of 2.37. The firm's 50 day moving average is $29.99 and its two-hundred day moving average is $34.09.

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Insider Activity

In other Sweetgreen news, insider Nathaniel Ru sold 53,718 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $38.70, for a total transaction of $2,078,886.60. Following the completion of the sale, the insider now directly owns 1,952,129 shares of the company's stock, valued at approximately $75,547,392.30. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 41,999 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.68, for a total transaction of $1,624,521.32. Following the completion of the sale, the insider now owns 1,930,233 shares in the company, valued at $74,661,412.44. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 516,817 shares of company stock worth $19,677,637. Corporate insiders own 21.52% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SG. GLOBALT Investments LLC GA purchased a new position in Sweetgreen in the third quarter worth $591,000. Verition Fund Management LLC boosted its position in shares of Sweetgreen by 189.6% in the 3rd 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 in the last quarter. Stephens Investment Management Group LLC grew its stake in Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company's stock worth $33,299,000 after buying an additional 547,816 shares during the last quarter. Cox Capital Mgt LLC increased its position in Sweetgreen by 76.0% during the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company's stock valued at $1,728,000 after buying an additional 23,278 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Sweetgreen by 670.0% in the third quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company's stock valued at $5,085,000 after buying an additional 124,813 shares during the last quarter. Institutional investors 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.