Sweetgreen (NYSE:SG - Get Free Report) had its price target cut by equities research analysts at TD Securities from $45.00 to $33.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Securities' target price indicates a potential upside of 53.20% from the stock's previous close.
SG has been the topic of a number of other reports. The Goldman Sachs Group cut their price objective on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Citigroup lowered their price objective on Sweetgreen from $49.00 to $43.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. UBS Group raised their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.27.
Check Out Our Latest Analysis on SG
Sweetgreen Trading Down 5.4 %
Shares of NYSE SG traded down $1.22 during midday trading on Thursday, reaching $21.54. The company had a trading volume of 6,612,877 shares, compared to its average volume of 3,612,138. Sweetgreen has a 1 year low of $16.42 and a 1 year high of $45.12. The business's 50-day simple moving average is $29.99 and its 200 day simple moving average is $34.09. The stock has a market cap of $2.49 billion, a P/E ratio of -27.62 and a beta of 2.37.
Insider Buying and Selling
In other news, CFO Mitch Reback sold 72,000 shares of Sweetgreen stock in a transaction on Monday, December 9th. The shares were sold at an average price of $37.77, for a total value of $2,719,440.00. Following the transaction, the chief financial officer now directly owns 43,901 shares of the company's stock, valued at $1,658,140.77. The trade was a 62.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicolas Jammet sold 41,999 shares of the company's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 516,817 shares of company stock valued at $19,677,637. Company insiders own 21.52% of the company's stock.
Institutional Trading of Sweetgreen
Several hedge funds have recently made changes to their positions in the company. Creative Planning boosted its holdings in Sweetgreen by 61.7% in the 3rd quarter. Creative Planning now owns 11,439 shares of the company's stock valued at $406,000 after purchasing an additional 4,364 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in 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 buying an additional 537 shares during the last quarter. Stephens Investment Management Group LLC raised its position in shares of Sweetgreen by 139.9% in the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company's stock valued at $33,299,000 after buying an additional 547,816 shares during the last quarter. Optas LLC increased its stake in shares of Sweetgreen by 9.1% during the 3rd quarter. Optas LLC now owns 16,778 shares of the company's stock valued at $595,000 after acquiring an additional 1,395 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Sweetgreen by 670.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company's stock valued at $5,085,000 after purchasing an additional 124,813 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company's stock.
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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