Sweetgreen (NYSE:SG) Price Target Cut to $35.00 by Analysts at UBS Group

Sweetgreen (NYSE:SG) had its target price cut by UBS Group from $45.00 to $35.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on SG. Piper Sandler cut their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday. KeyCorp initiated coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. TD Cowen reissued a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. Oppenheimer dropped their target price on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Citigroup reduced their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and an average target price of $36.27.

Sweetgreen Price Performance

NYSE SG opened at $23.23 on Thursday. Sweetgreen has a 1 year low of $11.84 and a 1 year high of $45.12. The stock has a market capitalization of $2.69 billion, a PE ratio of -29.78 and a beta of 2.37. The business’s 50-day moving average is $30.24 and its 200 day moving average is $34.17.

Insiders Place Their Bets

In other news, CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicolas Jammet sold 41,999 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.68, for a total value of $1,624,521.32. Following the transaction, the insider now directly owns 1,930,233 shares of the company’s stock, valued at approximately $74,661,412.44. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 516,817 shares of company stock worth $19,677,637. 21.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Several large investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. increased its stake in Sweetgreen by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock valued at $336,000 after purchasing an additional 473 shares in the last quarter. Cypress Wealth Services LLC grew its holdings in shares of 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 buying an additional 483 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after acquiring an additional 494 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after acquiring an additional 537 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in Sweetgreen by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after acquiring 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.