Oppenheimer Cuts Sweetgreen (NYSE:SG) Price Target to $35.00

Sweetgreen (NYSE:SG - Get Free Report) had its price objective dropped by research analysts at Oppenheimer from $41.00 to $35.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective points to a potential upside of 62.49% from the company's previous close.

Several other analysts have also weighed in on the company. Citigroup reduced their price objective on Sweetgreen from $49.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. TD Cowen restated a "buy" rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Monday, November 18th. KeyCorp started coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a "sector weight" rating for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their target price on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.27.

Sweetgreen Stock Down 5.4 %

Shares of SG stock traded down $1.22 during trading hours on Thursday, reaching $21.54. The company's stock had a trading volume of 6,618,185 shares, compared to its average volume of 3,612,159. Sweetgreen has a fifty-two week low of $16.42 and a fifty-two week high of $45.12. The firm's 50 day simple moving average is $29.99 and its 200-day simple moving average is $34.09. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -27.62 and a beta of 2.37.

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Insider Buying and Selling at Sweetgreen

In related news, insider Nicolas Jammet sold 41,999 shares of Sweetgreen stock in a transaction on 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 transaction, the insider now owns 1,930,233 shares of the company's stock, valued at $74,661,412.44. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the sale, the chief financial officer now directly owns 344,055 shares in the company, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 516,817 shares of company stock worth $19,677,637. Insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its holdings in shares of Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after buying an additional 1,000 shares in the last quarter. Hollencrest Capital Management bought a new position in Sweetgreen during the third quarter worth $35,000. Headlands Technologies LLC boosted its stake in Sweetgreen by 156.0% during the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after acquiring an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after purchasing an additional 494 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in Sweetgreen in the fourth quarter valued at $53,000. 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.