Sweetgreen (NYSE:SG) Given New $39.00 Price Target at Citigroup

Sweetgreen (NYSE:SG) had its target price cut by analysts at Citigroup from $43.00 to $39.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 70.99% from the stock’s current price.

Several other equities research analysts have also recently weighed in on SG. UBS Group cut their target price on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday. Oppenheimer lowered their price objective on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday. Morgan Stanley decreased their target price 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. Finally, TD Securities decreased their target price on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Price Performance

NYSE:SG traded down $0.33 during trading hours on Thursday, reaching $22.81. 9,044,633 shares of the company were exchanged, compared to its average volume of 3,422,414. The business has a 50 day moving average of $30.47 and a 200 day moving average of $34.25. Sweetgreen has a 1-year low of $11.84 and a 1-year high of $45.12. The company has a market capitalization of $2.64 billion, a P/E ratio of -28.97 and a beta of 2.37.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the sale, the chief financial officer now directly owns 350,981 shares in the company, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Neman sold 41,805 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.61, for a total transaction of $1,614,091.05. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $74,526,103.08. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 516,817 shares of company stock valued at $19,677,637 over the last 90 days. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its position in shares of Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock worth $336,000 after purchasing an additional 473 shares during the period. Cypress Wealth Services LLC increased its stake in shares of Sweetgreen by 6.1% in the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after acquiring an additional 483 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after buying an additional 494 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 holdings in Sweetgreen by 1.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock worth $1,608,000 after buying an additional 600 shares in the last quarter. Hedge funds and other 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.