Sweetgreen, Inc. (NYSE:SG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $36.27.

Several research analysts have weighed in on SG shares. UBS Group lowered their target price on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. The Goldman Sachs Group decreased their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, TD Securities dropped 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, February 27th.

Insider Activity

In other Sweetgreen news, CEO Jonathan Neman sold 5,717 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. The trade was a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nathaniel Ru sold 2,123 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $50,527.40. Following the sale, the director now owns 1,785,099 shares in the company, valued at $42,485,356.20. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,852 shares of company stock worth $1,052,177 over the last three months. 21.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

Several large investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC increased its stake in shares of Sweetgreen by 91.9% during the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after acquiring an additional 14,545 shares during the last quarter. Quest Partners LLC grew its holdings in Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after purchasing an additional 1,728 shares during the period. Intech Investment Management LLC acquired a new position in Sweetgreen during the third quarter worth approximately $1,045,000. Charles Schwab Investment Management Inc. raised its stake in Sweetgreen by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 830,249 shares of the company’s stock worth $29,432,000 after purchasing an additional 64,205 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Sweetgreen by 3.6% in the 3rd quarter. Cerity Partners LLC now owns 57,258 shares of the company’s stock valued at $2,030,000 after purchasing an additional 1,997 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Stock Down 3.6 %

NYSE:SG opened at $25.58 on Monday. The firm’s fifty day simple moving average is $26.62 and its 200-day simple moving average is $32.89. The stock has a market cap of $3.00 billion, a PE ratio of -32.79 and a beta of 2.44. Sweetgreen has a fifty-two week low of $18.77 and a fifty-two week high of $45.12.

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.