Oppenheimer Lowers Sweetgreen (NYSE:SG) Price Target to $41.00

Sweetgreen (NYSE:SG) had its price objective reduced by Oppenheimer from $45.00 to $41.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. KeyCorp started coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. UBS Group boosted 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, TD Cowen reissued a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.40.

Sweetgreen Stock Down 9.1 %

Shares of NYSE SG opened at $31.76 on Tuesday. Sweetgreen has a 12 month low of $9.66 and a 12 month high of $45.12. The company has a market cap of $3.67 billion, a P/E ratio of -40.72 and a beta of 2.38. The business’s 50 day moving average is $37.06 and its two-hundred day moving average is $33.61.

Insider Buying and Selling

In other Sweetgreen news, CTO Wouleta Ayele sold 4,347 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 transaction of $148,015.35. Following the sale, the chief technology officer now owns 140,302 shares of the company’s stock, valued at $4,777,283.10. This represents a 3.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.00, for a total transaction of $663,525.00. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $86,860,260. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 640,838 shares of company stock worth $24,800,733 in the last three months. Insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently made changes to their positions in the company. Driehaus Capital Management LLC raised its holdings in 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 during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Sweetgreen during the 2nd quarter worth approximately $29,109,000. Stephens Investment Management Group LLC grew its position in shares of Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after buying an additional 547,816 shares during the period. Hood River Capital Management LLC raised its stake in shares of 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 buying an additional 490,806 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings 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 buying an additional 272,340 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.