Brokerages Set Sweetgreen, Inc. (NYSE:SG) Target Price at $39.80

by · The Cerbat Gem

Shares of Sweetgreen, Inc. (NYSE:SG – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $39.80.

SG has been the topic of a number of analyst reports. Morgan Stanley upped their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Oppenheimer boosted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America raised their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Citigroup boosted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th.

View Our Latest Analysis on SG

Sweetgreen Trading Up 1.3 %

SG stock opened at $43.97 on Tuesday. The stock has a market cap of $5.09 billion, a PE ratio of -56.37 and a beta of 2.32. Sweetgreen has a 12 month low of $9.21 and a 12 month high of $45.12. The company has a 50-day moving average price of $37.13 and a 200 day moving average price of $32.65.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 1,010 shares of Sweetgreen stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.01, for a total value of $40,410.10. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,228,422.28. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total transaction of $182,916.60. Following the sale, the insider now directly owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. The trade was a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,132 shares of company stock valued at $5,993,464. Company insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Driehaus Capital Management LLC grew its stake in Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of Sweetgreen during the first quarter valued at about $29,105,000. Allspring Global Investments Holdings LLC acquired a new stake in Sweetgreen in the 2nd quarter worth approximately $33,449,000. Renaissance Technologies LLC purchased a new stake in Sweetgreen during the 2nd quarter worth approximately $29,109,000. Finally, Baillie Gifford & Co. increased its stake in Sweetgreen by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock valued at $371,516,000 after purchasing an additional 721,740 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Company Profile

(Get Free Report

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.

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