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

Sweetgreen, Inc. (NYSE:SG) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.40.

A number of equities analysts have recently issued reports on SG shares. KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company. Oppenheimer reduced their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. Finally, UBS Group upped their target price 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.

Sweetgreen Trading Down 9.1 %

Sweetgreen stock opened at $31.76 on Wednesday. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -40.72 and a beta of 2.38. The stock has a 50 day moving average of $37.06 and a two-hundred day moving average of $33.61. Sweetgreen has a twelve month low of $9.66 and a twelve month high of $45.12.

Insider Buying and Selling at Sweetgreen

In other news, CTO Wouleta Ayele sold 4,347 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $148,015.35. Following the completion of the sale, the chief technology officer now owns 140,302 shares of the company’s stock, valued at $4,777,283.10. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares of the company’s stock, valued at approximately $66,406,082.82. This trade represents a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 640,838 shares of company stock valued at $24,800,733. Company insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SG. Hollencrest Capital Management purchased a new position in Sweetgreen in the third quarter valued at about $35,000. Quest Partners LLC purchased a new position in shares of Sweetgreen during the 2nd quarter valued at approximately $76,000. KBC Group NV boosted its stake in shares of 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 last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sweetgreen during the third quarter worth approximately $155,000. Finally, Canton Hathaway LLC bought a new stake in shares of Sweetgreen in the third quarter worth $177,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.