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

Sweetgreen (NYSE:SG) had its price target dropped by analysts at Oppenheimer from $45.00 to $41.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 27.41% from the company’s previous close.

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

Sweetgreen Stock Performance

Shares of NYSE SG opened at $32.18 on Tuesday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -41.26 and a beta of 2.38. Sweetgreen has a 1 year low of $9.66 and a 1 year high of $45.12. The stock’s 50-day simple moving average is $36.95 and its 200-day simple moving average is $33.60.

Insider Buying and Selling

In other Sweetgreen news, insider Nicolas Jammet sold 170,199 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $37.73, for a total value of $6,421,608.27. Following the transaction, the insider now directly owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. This trade represents a 8.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $663,525.00. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $86,860,260. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 640,838 shares of company stock worth $24,800,733. Company insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC lifted its stake 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 lifted its stake in shares of Sweetgreen by 0.7% in the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after buying an additional 474 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares during the last quarter. KBC Group NV raised its position in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after buying an additional 704 shares during the last quarter. Finally, Pier Capital LLC lifted its holdings in shares of Sweetgreen by 0.3% during the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after buying an additional 761 shares during the period. 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.