Sweetgreen (NYSE:SG) Given New $43.00 Price Target at Citigroup

Sweetgreen (NYSE:SG) had its price objective reduced by Citigroup from $49.00 to $43.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on the company. Morgan Stanley dropped 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. 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. KeyCorp began coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, Oppenheimer cut their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Sweetgreen Trading Up 1.7 %

Shares of NYSE SG opened at $26.38 on Wednesday. The stock has a fifty day moving average price of $33.04 and a 200 day moving average price of $34.45. Sweetgreen has a 12-month low of $10.93 and a 12-month high of $45.12.

Insider Transactions at Sweetgreen

In other news, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction of $182,916.60. Following the completion of the transaction, the insider now directly owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mitch Reback sold 9,507 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $323,713.35. Following the sale, the chief financial officer now owns 360,177 shares in the company, valued at $12,264,026.85. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 601,607 shares of company stock valued at $23,177,393. Insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. GLOBALT Investments LLC GA acquired a new position in shares of Sweetgreen during the third quarter valued at $591,000. Verition Fund Management LLC lifted its position in Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock valued at $6,151,000 after purchasing an additional 113,586 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after purchasing an additional 547,816 shares during the period. Zweig DiMenna Associates LLC bought a new position in Sweetgreen in the 3rd quarter worth about $3,329,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Sweetgreen by 13.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock valued at $44,613,000 after purchasing an additional 148,684 shares during the period. 95.75% of the stock is currently owned by institutional investors.

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.