Sweetgreen, Inc. (NYSE:SG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $41.10.

Several brokerages recently weighed in on SG. 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. Citigroup upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $49.00 in a report on Friday. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. KeyCorp started coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, UBS Group upped their price target on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

Sweetgreen Price Performance

SG opened at $33.11 on Wednesday. The company has a market capitalization of $3.83 billion, a PE ratio of -42.45 and a beta of 2.38. Sweetgreen has a fifty-two week low of $9.66 and a fifty-two week high of $45.12. The business has a 50-day moving average of $36.78 and a 200-day moving average of $33.69.

Insider Buying and Selling at Sweetgreen

In related news, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total transaction of $6,421,608.27. Following the sale, the insider now directly owns 1,760,034 shares of the company’s stock, valued at $66,406,082.82. This trade represents a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Neman sold 51,128 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $38.60, for a total value of $1,973,540.80. 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 $74,506,800.80. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 640,838 shares of company stock valued at $24,800,733 in the last 90 days. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors have recently bought and sold shares of the business. GLOBALT Investments LLC GA acquired a new position in Sweetgreen during the third quarter worth $591,000. Oliver Luxxe Assets LLC acquired a new stake in shares of Sweetgreen during the third quarter worth approximately $1,973,000. Verition Fund Management LLC increased its holdings in shares of Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after buying an additional 113,586 shares in the last quarter. Davidson Kempner Capital Management LP raised its position in Sweetgreen by 40.1% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after purchasing an additional 164,600 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in Sweetgreen in the third quarter worth $3,329,000. 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.