Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $39.80.

SG has been the topic of a number of recent analyst reports. 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. TD Cowen restated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. KeyCorp began coverage on shares of Sweetgreen in a research note on Wednesday. They issued a “sector weight” rating on the stock. Finally, UBS Group increased their price objective 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.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 51,128 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $38.60, for a total value of $1,973,540.80. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $74,506,800.80. The trade was a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adrienne Gemperle sold 5,372 shares of the business’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 transaction, the insider now directly owns 107,313 shares in the company, valued at $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 470,639 shares of company stock valued at $18,379,124 over the last quarter. Company insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently made changes to their positions in SG. Hollencrest Capital Management purchased a new position in shares of Sweetgreen in the third quarter valued at $35,000. Quest Partners LLC acquired a new stake in Sweetgreen in the 2nd quarter valued at about $76,000. KBC Group NV increased 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 acquiring an additional 704 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Sweetgreen in the third quarter valued at about $155,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Sweetgreen in the third quarter valued at approximately $177,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 8.7 %

NYSE:SG opened at $34.47 on Friday. Sweetgreen has a twelve month low of $9.66 and a twelve month high of $45.12. The company has a market cap of $3.99 billion, a P/E ratio of -44.19 and a beta of 2.32. The company’s 50-day moving average price is $38.37 and its 200-day moving average price is $33.38.

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.