Sweetgreen (NYSE:SG) Price Target Lowered to $27.00 at Piper Sandler

Sweetgreen (NYSE:SG) had its price objective decreased by Piper Sandler from $39.00 to $27.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts also recently issued reports about the stock. TD Securities decreased their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday. KeyCorp started coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Citigroup dropped their price objective on Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Morgan Stanley lowered their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, Oppenheimer lowered their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Sweetgreen Stock Performance

Shares of SG stock opened at $23.23 on Thursday. The stock’s 50 day simple moving average is $30.24 and its 200 day simple moving average is $34.17. Sweetgreen has a twelve month low of $11.84 and a twelve month high of $45.12. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -29.78 and a beta of 2.37.

Insider Activity at Sweetgreen

In other news, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 10,926 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 516,817 shares of company stock worth $19,677,637. 21.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

Institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. raised its holdings in shares of Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock worth $336,000 after buying an additional 473 shares in the last quarter. Cypress Wealth Services LLC grew its position in Sweetgreen by 6.1% in the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after acquiring an additional 483 shares during the period. Tower Research Capital LLC TRC grew its position in Sweetgreen by 45.7% in the fourth 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 during the period. Wealth Enhancement Advisory Services LLC raised its stake in Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after acquiring an additional 537 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Sweetgreen by 1.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after acquiring an additional 600 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

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.