Sweetgreen, Inc. (NYSE:SG - Get Free Report)'s share price rose 7.6% during trading on Monday . The stock traded as high as $35.95 and last traded at $35.67. Approximately 1,760,081 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 1,860,416 shares. The stock had previously closed at $33.14.
Analyst Ratings Changes
Several research firms have weighed in on SG. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a "sector weight" rating for the company. UBS Group upped their price objective on Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. TD Cowen restated a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Monday, November 18th. Oppenheimer lifted their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $39.80.
Read Our Latest Stock Report on SG
Sweetgreen Stock Performance
The stock has a fifty day moving average price of $37.19 and a 200-day moving average price of $33.59. The firm has a market cap of $4.06 billion, a PE ratio of -44.95 and a beta of 2.38.
Insider Transactions at Sweetgreen
In related news, insider Adrienne Gemperle sold 5,372 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the sale, the insider now directly owns 107,313 shares of the company's stock, valued at approximately $3,654,007.65. This trade represents a 4.77 % 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 170,199 shares of Sweetgreen stock in a transaction on Friday, December 13th. The stock was sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares in the company, valued at $66,406,082.82. This trade represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,838 shares of company stock valued at $24,800,733 over the last 90 days. Corporate insiders own 21.52% of the company's stock.
Institutional Trading of Sweetgreen
Large investors have recently modified their holdings of the business. GLOBALT Investments LLC GA purchased a new position in Sweetgreen in the third quarter valued at about $591,000. Oliver Luxxe Assets LLC acquired a new stake in shares of Sweetgreen during the third quarter worth approximately $1,973,000. Verition Fund Management LLC increased 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 buying an additional 113,586 shares during the last quarter. Davidson Kempner Capital Management LP raised its holdings in Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company's stock valued at $17,330,000 after acquiring an additional 164,600 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in Sweetgreen in the third quarter valued at $3,329,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.
About Sweetgreen
(
Get Free Report)
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.
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