Investment Analysts’ Recent Ratings Updates for Sweetgreen (SG)

A number of firms have modified their ratings and price targets on shares of Sweetgreen (NYSE: SG) recently:

• 11/8/2024 – Sweetgreen had its price target raised by analysts at Oppenheimer Holdings Inc. from $40.00 to $45.00. They now have an “outperform” rating on the stock.
• 11/8/2024 – Sweetgreen had its “neutral” rating reaffirmed by analysts at The Goldman Sachs Group, Inc.. They now have a $40.00 price target on the stock.
• 11/8/2024 – Sweetgreen had its price target raised by analysts at TD Cowen from $43.00 to $45.00. They now have a “buy” rating on the stock.
• 11/8/2024 – Sweetgreen had its price target raised by analysts at UBS Group AG from $37.00 to $45.00. They now have a “buy” rating on the stock.
• 9/27/2024 – Sweetgreen had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $43.00 price target on the stock.

Sweetgreen Price Performance

Sweetgreen stock traded down $0.15 during trading on Friday, reaching $33.51. 3,019,322 shares of the company were exchanged, compared to its average volume of 2,881,269. Sweetgreen, Inc. has a 52-week low of $9.21 and a 52-week high of $42.77. The stock’s 50 day simple moving average is $36.14 and its two-hundred day simple moving average is $31.72. The company has a market capitalization of $3.82 billion, a P/E ratio of -42.96 and a beta of 2.32.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 9,497 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.40, for a total transaction of $317,199.80. Following the sale, the chief financial officer now directly owns 369,684 shares in the company, valued at $12,347,445.60. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adrienne Gemperle sold 6,225 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.40, for a total transaction of $207,915.00. Following the transaction, the insider now owns 112,685 shares in the company, valued at $3,763,679. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 450,167 shares of company stock worth $16,093,039. Corporate insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Oliver Luxxe Assets LLC purchased a new position in shares of Sweetgreen in the third quarter worth $1,973,000. Sei Investments Co. purchased a new position in Sweetgreen in the 1st quarter worth about $1,110,000. Davidson Kempner Capital Management LP increased its position in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after purchasing an additional 164,600 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new stake in shares of Sweetgreen during the 3rd quarter valued at about $3,329,000. Finally, Stephens Investment Management Group LLC increased its holdings in Sweetgreen by 139.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after acquiring an additional 547,816 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

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.