Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat 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 objective among brokers that have covered the stock in the last year is $36.27.

A number of research analysts have issued reports on SG shares. Oppenheimer reduced their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Morgan Stanley reduced their price target on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup lowered their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th.

Insider Buying and Selling

In other news, COO Rossann Williams sold 4,977 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the sale, the chief operating officer now owns 95,516 shares in the company, valued at approximately $2,273,280.80. This trade represents a 4.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the transaction, the chief financial officer now owns 350,981 shares of the company’s stock, valued at $11,628,000.53. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,852 shares of company stock worth $1,052,177 over the last ninety days. 21.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC boosted its stake in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after buying an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Sweetgreen by 45.7% during 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 last quarter. Millstone Evans Group LLC purchased a new position in shares of Sweetgreen during the fourth quarter worth approximately $53,000. Finally, Denver PWM LLC bought a new stake in shares of Sweetgreen in the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Down 3.6 %

SG stock opened at $25.58 on Monday. The business has a 50 day moving average of $26.62 and a 200-day moving average of $32.92. The firm has a market cap of $3.00 billion, a PE ratio of -32.79 and a beta of 2.44. Sweetgreen has a 12-month low of $18.77 and a 12-month 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.