Brokerages Set Sweetgreen, Inc. (NYSE:SG) Target Price at $36.27

Sweetgreen, Inc. (NYSE:SG) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $36.27.

SG has been the topic of a number of research reports. Oppenheimer reduced their target price on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. UBS Group reduced their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. TD Securities reduced their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley lowered their price objective on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st.

Insider Activity

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the business’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 $50,527.40. Following the completion of the sale, the director now owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,852 shares of company stock worth $1,052,177. Company insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently made changes to their positions in SG. FMR LLC boosted its stake in Sweetgreen by 3.4% during the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock valued at $323,933,000 after purchasing an additional 329,789 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Sweetgreen by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after purchasing an additional 351,240 shares in the last quarter. Invesco Ltd. boosted its position in shares of Sweetgreen by 40.9% during the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after buying an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP grew its holdings in Sweetgreen by 30.1% during the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after buying an additional 1,025,341 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after buying an additional 272,340 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Trading Down 3.6 %

NYSE:SG opened at $25.58 on Monday. The stock’s 50-day moving average is $26.62 and its 200-day moving average is $32.92. Sweetgreen has a 1-year low of $18.77 and a 1-year high of $45.12. The stock has a market cap of $3.00 billion, a P/E ratio of -32.79 and a beta of 2.44.

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.