UBS Group Has Lowered Expectations for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG) had its price target dropped by equities researchers at UBS Group from $45.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 52.24% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Morgan Stanley cut their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Piper Sandler decreased their target price on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday. Citigroup cut their price target on Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Oppenheimer lowered their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.64.

Sweetgreen Price Performance

Sweetgreen stock traded down $0.15 during trading hours on Thursday, reaching $22.99. The company had a trading volume of 8,836,302 shares, compared to its average volume of 3,414,459. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -29.51 and a beta of 2.37. Sweetgreen has a 12-month low of $11.84 and a 12-month high of $45.12. The company has a 50-day moving average price of $30.47 and a 200 day moving average price of $34.25.

Insider Activity

In related news, CEO Jonathan Neman sold 41,805 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.61, for a total value of $1,614,091.05. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $74,526,103.08. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicolas Jammet sold 41,999 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.68, for a total value of $1,624,521.32. Following the completion of the sale, the insider now owns 1,930,233 shares in the company, valued at approximately $74,661,412.44. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 516,817 shares of company stock valued at $19,677,637. 21.52% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

Several large investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its holdings in Sweetgreen by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock valued at $336,000 after buying an additional 473 shares during the last quarter. Cypress Wealth Services LLC lifted its holdings in Sweetgreen by 6.1% in the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after buying an additional 483 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after buying an additional 494 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after buying an additional 537 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Sweetgreen by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.