UBS Group Boosts Sweetgreen (NYSE:SG) Price Target to $45.00

Sweetgreen (NYSE:SG) had its price target increased by UBS Group from $37.00 to $45.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also weighed in on SG. Citigroup lifted their target price on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. TD Cowen reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Sweetgreen in a research note on Friday, September 27th. Morgan Stanley increased their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday. Finally, Oppenheimer upped their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Trading Down 1.1 %

SG opened at $39.26 on Friday. The stock has a 50-day moving average of $35.74 and a 200 day moving average of $31.59. Sweetgreen has a 12 month low of $8.83 and a 12 month high of $42.77. The firm has a market cap of $4.48 billion, a P/E ratio of -50.33 and a beta of 2.32.

Insider Activity

In other news, insider Nicolas Jammet sold 16,751 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total transaction of $670,710.04. Following the completion of the transaction, the insider now directly owns 1,930,233 shares of the company’s stock, valued at $77,286,529.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Nicolas Jammet sold 16,751 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total transaction of $670,710.04. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at $77,286,529.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Neman sold 20,937 shares of Sweetgreen stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.03, for a total value of $838,108.11. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,267,026.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 466,022 shares of company stock worth $16,671,481 in the last ninety days. Company insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several large investors have recently bought and sold shares of the business. Oliver Luxxe Assets LLC acquired a new position in Sweetgreen in the 3rd quarter valued at about $1,973,000. Sei Investments Co. acquired a new stake in Sweetgreen during the first quarter worth $1,110,000. Davidson Kempner Capital Management LP raised its position in Sweetgreen by 40.1% in the second 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 period. Zweig DiMenna Associates LLC acquired a new position in shares of Sweetgreen in the 3rd quarter valued at $3,329,000. Finally, Stephens Investment Management Group LLC grew its holdings 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 purchasing an additional 547,816 shares during the period. Hedge funds and other institutional investors 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.