Sweetgreen (NYSE:SG) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Sweetgreen (NYSE:SG - Free Report) from a neutral rating to a buy rating in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has $49.00 price objective on the stock, up from their prior price objective of $44.00.

Several other research analysts have also commented on the stock. KeyCorp started coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a "sector weight" rating for the company. Oppenheimer lowered their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a report on Tuesday. TD Cowen reissued a "buy" rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. UBS Group lifted their price target on Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of "Moderate Buy" and a consensus target price of $41.10.

Sweetgreen Stock Up 2.7 %

Shares of NYSE SG traded up $0.88 during mid-day trading on Friday, reaching $33.11. 3,725,317 shares of the company were exchanged, compared to its average volume of 2,644,848. The company's 50 day moving average price is $36.78 and its 200 day moving average price is $33.62. Sweetgreen has a 52 week low of $9.66 and a 52 week high of $45.12. The stock has a market capitalization of $3.83 billion, a PE ratio of -42.45 and a beta of 2.38.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CTO Wouleta Ayele sold 4,347 shares of Sweetgreen stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $148,015.35. Following the transaction, the chief technology officer now owns 140,302 shares of the company's stock, valued at $4,777,283.10. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicolas Jammet sold 16,751 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total transaction of $670,710.04. Following the sale, the insider now owns 1,930,233 shares in the company, valued at $77,286,529.32. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 640,838 shares of company stock worth $24,800,733 in the last three months. 21.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC increased its position in Sweetgreen by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company's stock worth $3,993,000 after purchasing an additional 314 shares during the last quarter. Evolutionary Tree Capital Management LLC boosted its holdings in shares of Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company's stock worth $1,982,000 after purchasing an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Sweetgreen by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company's stock valued at $990,000 after purchasing an additional 537 shares during the last quarter. KBC Group NV raised its holdings in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after buying an additional 704 shares during the period. Finally, Pier Capital LLC lifted its position in Sweetgreen by 0.3% in the third quarter. Pier Capital LLC now owns 293,333 shares of the company's stock worth $10,399,000 after buying an additional 761 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

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.