Oppenheimer Lowers Sweetgreen (NYSE:SG) Price Target to $41.00

Sweetgreen (NYSE:SG - Free Report) had its price objective lowered by Oppenheimer from $45.00 to $41.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also commented on SG. KeyCorp started coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a "sector weight" rating for the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group boosted their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, TD Cowen reaffirmed a "buy" rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.40.

Sweetgreen Price Performance

Shares of NYSE SG traded down $3.18 during trading on Tuesday, hitting $31.76. The stock had a trading volume of 2,945,205 shares, compared to its average volume of 2,462,285. The firm has a fifty day moving average of $37.06 and a two-hundred day moving average of $33.61. The company has a market capitalization of $3.67 billion, a PE ratio of -40.72 and a beta of 2.38. Sweetgreen has a 12 month low of $9.66 and a 12 month high of $45.12.

Insiders Place Their Bets

In other Sweetgreen news, insider Adrienne Gemperle sold 5,372 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the completion of the transaction, the insider now owns 107,313 shares in the company, valued at $3,654,007.65. This trade represents a 4.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathaniel Ru sold 1,263 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $50,532.63. Following the sale, the insider now owns 1,952,129 shares in the company, valued at approximately $78,104,681.29. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 640,838 shares of company stock worth $24,800,733 over the last quarter. 21.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SG. Bank of New York Mellon Corp raised its position in shares of Sweetgreen by 12.4% in the second quarter. Bank of New York Mellon Corp now owns 361,354 shares of the company's stock worth $10,891,000 after buying an additional 39,757 shares in the last quarter. Principal Financial Group Inc. increased its stake in Sweetgreen by 1,610.4% in the 2nd quarter. Principal Financial Group Inc. now owns 218,281 shares of the company's stock worth $6,579,000 after acquiring an additional 205,519 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Sweetgreen in the 2nd quarter valued at about $279,000. Natixis Advisors LLC bought a new stake in shares of Sweetgreen during the 2nd quarter valued at about $477,000. Finally, Rhumbline Advisers grew its holdings in shares of Sweetgreen by 3.9% during the second quarter. Rhumbline Advisers now owns 141,344 shares of the company's stock worth $4,260,000 after purchasing an additional 5,301 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

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.