Sweetgreen (NYSE:SG) Upgraded to “Buy” at Citigroup

Citigroup upgraded shares of Sweetgreen (NYSE:SG) from a neutral rating to a buy rating in a research note published on Friday morning, MarketBeat reports. Citigroup currently has $49.00 target price on the stock, up from their previous target price of $44.00.

SG has been the subject of a number of other research reports. Oppenheimer cut their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday. KeyCorp assumed coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. TD Cowen restated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Finally, UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus target price of $41.10.

Sweetgreen Trading Up 2.7 %

Shares of NYSE:SG opened at $33.11 on Friday. The stock has a market capitalization of $3.83 billion, a PE ratio of -42.45 and a beta of 2.38. The firm has a fifty day moving average price of $36.78 and a 200 day moving average price of $33.62. Sweetgreen has a 1 year low of $9.66 and a 1 year high of $45.12.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 1,010 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $77,228,422.28. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nathaniel Ru sold 1,263 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $50,532.63. Following the transaction, the insider now owns 1,952,129 shares of the company’s stock, valued at $78,104,681.29. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 640,838 shares of company stock worth $24,800,733. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

A number of large investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC grew its holdings in shares of 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 purchasing an additional 1,878,216 shares in the last quarter. Renaissance Technologies LLC bought a new position in Sweetgreen in the 2nd quarter valued at about $29,109,000. Stephens Investment Management Group LLC raised its position in shares of Sweetgreen by 139.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after buying an additional 547,816 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Sweetgreen by 42.6% during the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock worth $49,521,000 after purchasing an additional 490,806 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Sweetgreen by 13.3% in the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares during the last quarter. Institutional investors 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.