Citigroup Lowers Sweetgreen (NYSE:SG) Price Target to $43.00

Sweetgreen (NYSE:SG) had its price objective trimmed by Citigroup from $49.00 to $43.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer dropped their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley dropped their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. 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 research note on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Sweetgreen Price Performance

Sweetgreen stock opened at $26.38 on Wednesday. Sweetgreen has a 52 week low of $10.93 and a 52 week high of $45.12. The company’s 50-day moving average price is $33.04 and its two-hundred day moving average price is $34.45.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 14,745 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $86,860,260. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 5,372 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.05, for a total transaction 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. The trade was a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,607 shares of company stock valued at $23,177,393 in the last quarter. Insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cypress Wealth Services LLC increased its stake in Sweetgreen by 6.1% during the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after acquiring an additional 483 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sweetgreen by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Sweetgreen by 1.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after purchasing an additional 600 shares during the period. Arizona State Retirement System raised its stake in shares of Sweetgreen by 2.1% in the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company’s stock valued at $947,000 after purchasing an additional 613 shares in the last quarter. Finally, Xponance Inc. lifted its position in Sweetgreen by 10.8% in the fourth quarter. Xponance Inc. now owns 7,185 shares of the company’s stock worth $230,000 after purchasing an additional 702 shares during the period. Institutional investors and hedge funds 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.