Oppenheimer Lowers Sweetgreen (NYSE:SG) Price Target to $35.00

Sweetgreen (NYSE:SG) had its price objective reduced by analysts at Oppenheimer from $41.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 54.37% from the stock’s previous close.

Several other research analysts have also recently commented on SG. TD Securities reduced their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen reiterated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Piper Sandler lowered their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, UBS Group increased their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $22.67 on Thursday. The stock has a 50 day moving average price of $29.99 and a 200 day moving average price of $34.09. Sweetgreen has a 52 week low of $12.32 and a 52 week high of $45.12. The stock has a market capitalization of $2.62 billion, a PE ratio of -29.07 and a beta of 2.37.

Insiders Place Their Bets

In other Sweetgreen 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 sale, the insider now owns 1,930,233 shares of the company’s stock, valued at approximately $74,661,412.44. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 33,444 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $40.16, for a total value of $1,343,111.04. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,517,956.48. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 Investors Weigh In On Sweetgreen

Large investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen during the 3rd quarter valued at $35,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after acquiring an additional 741 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after acquiring an additional 494 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.