Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have received an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.80.

Several research firms recently issued reports on SG. KeyCorp began coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. UBS Group upped their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. TD Cowen restated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. Oppenheimer upped their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th.

Sweetgreen Trading Up 1.1 %

Shares of NYSE:SG opened at $35.10 on Friday. Sweetgreen has a 12-month low of $9.66 and a 12-month high of $45.12. The business has a 50 day moving average of $38.16 and a two-hundred day moving average of $33.54. The company has a market capitalization of $4.06 billion, a PE ratio of -45.00 and a beta of 2.32.

Insider Transactions at Sweetgreen

In other Sweetgreen news, 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 value of $182,916.60. Following the completion of the sale, the insider now owns 107,313 shares in the company, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Wouleta Ayele sold 4,347 shares of the firm’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 $148,015.35. Following the completion of the transaction, the chief technology officer now directly owns 140,302 shares in the company, valued at $4,777,283.10. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 640,838 shares of company stock valued at $24,800,733 over the last ninety days. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its holdings in Sweetgreen by 6.2% in 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 during the last quarter. Wellington Management Group LLP lifted its holdings in Sweetgreen by 7.5% in the third quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock valued at $120,784,000 after acquiring an additional 236,874 shares during the last quarter. Driehaus Capital Management LLC grew its position in Sweetgreen by 231.8% in the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after acquiring an additional 1,878,216 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of 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 purchasing an additional 272,340 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Sweetgreen by 3.2% in the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock valued at $80,224,000 after purchasing an additional 69,120 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other 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.