UBS Group Issues Pessimistic Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG - Free Report) had its price objective reduced by UBS Group from $45.00 to $35.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on SG. TD Securities dropped their price target on shares of Sweetgreen from $45.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday. TD Cowen restated a "buy" rating and set a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Morgan Stanley cut their price objective on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Piper Sandler cut their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They set a "sector weight" rating on the stock. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.27.

Sweetgreen Stock Down 5.4 %

SG stock traded down $1.22 during trading on Thursday, hitting $21.54. 6,618,346 shares of the company's stock traded hands, 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 stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -27.62 and a beta of 2.37. The stock has a fifty day moving average price of $29.76 and a two-hundred day moving average price of $33.98.

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Insiders Place Their Bets

In related news, insider Nicolas Jammet sold 41,999 shares of the firm's 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 transaction, the insider now owns 1,930,233 shares in the company, valued at approximately $74,661,412.44. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Neman sold 33,444 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $40.16, for a total value of $1,343,111.04. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,517,956.48. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,817 shares of company stock worth $19,677,637 in the last 90 days. Company insiders own 21.52% of the company's stock.

Institutional Trading of Sweetgreen

A number of hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of Sweetgreen in the third quarter worth approximately $35,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC lifted its stake in shares of Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after acquiring an additional 741 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after acquiring an additional 494 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in shares of Sweetgreen in the fourth quarter worth approximately $53,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.