Sweetgreen (NYSE:SG) Price Target Lowered to $39.00 at Citigroup

Sweetgreen (NYSE:SG - Free Report) had its price objective decreased by Citigroup from $43.00 to $39.00 in a research note released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also recently weighed in on SG. The Goldman Sachs Group dropped their price objective on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday. Oppenheimer dropped their price objective on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Tuesday, February 25th. TD Cowen reiterated a "buy" rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Finally, Morgan Stanley lowered their target price on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.27.

Sweetgreen Trading Down 5.4 %

NYSE SG traded down $1.22 on Thursday, hitting $21.54. The company's stock had a trading volume of 6,618,346 shares, compared to its average volume of 3,614,961. Sweetgreen has a 52-week low of $16.42 and a 52-week high of $45.12. The company's 50-day simple moving average is $29.76 and its 200 day simple moving average is $33.98. The firm has a market cap of $2.49 billion, a P/E ratio of -27.62 and a beta of 2.37.

Remove Ads

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nathaniel Ru sold 53,718 shares of Sweetgreen stock in a transaction on Monday, December 9th. The stock was sold at an average price of $38.70, for a total value of $2,078,886.60. Following the completion of the sale, the insider now owns 1,952,129 shares of the company's stock, valued at approximately $75,547,392.30. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicolas Jammet sold 41,999 shares of Sweetgreen stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.68, for a total value of $1,624,521.32. Following the completion of the sale, the insider now directly owns 1,930,233 shares of the company's stock, valued at approximately $74,661,412.44. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 516,817 shares of company stock valued at $19,677,637 in the last 90 days. Corporate insiders own 21.52% of the company's stock.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the business. Hollencrest Capital Management bought a new stake in shares of Sweetgreen in the 3rd quarter worth $35,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after purchasing an additional 741 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Sweetgreen by 45.7% in the 4th 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 in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Sweetgreen in the fourth quarter worth $53,000. 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.