Sweetgreen, Inc. (NYSE:SG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Sweetgreen, Inc. (NYSE:SG) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $41.10.

SG has been the subject of a number of recent analyst reports. Citigroup upgraded Sweetgreen from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $49.00 in a research note on Friday. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen restated a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th.

Insider Transactions at Sweetgreen

In other news, CFO Mitch Reback sold 72,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00. Following the completion of the sale, the chief financial officer now directly owns 43,901 shares of the company’s stock, valued at $1,658,140.77. This trade represents a 62.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction on Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the completion of the transaction, the insider now owns 1,760,034 shares in the company, valued at $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 640,838 shares of company stock valued at $24,800,733. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after acquiring an additional 236,874 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after purchasing an additional 1,878,216 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after purchasing an additional 272,340 shares during the period. State Street Corp grew its position in Sweetgreen by 3.2% during the third quarter. State Street Corp now owns 2,263,025 shares of the company’s stock valued at $80,224,000 after purchasing an additional 69,120 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Sweetgreen by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after buying an additional 116,243 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Performance

Sweetgreen stock opened at $33.11 on Wednesday. The firm has a market capitalization of $3.83 billion, a PE ratio of -42.45 and a beta of 2.38. Sweetgreen has a one year low of $9.66 and a one year high of $45.12. The stock’s 50 day moving average price is $36.78 and its 200 day moving average price is $33.69.

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.