Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Moderate Buy” from Brokerages

Sweetgreen, Inc. (NYSE:SG) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $39.80.

A number of research firms have weighed in on SG. Oppenheimer boosted their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. 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. TD Cowen reissued a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. UBS Group upped their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, KeyCorp assumed coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company.

Insider Activity

In related news, CTO Wouleta Ayele sold 4,347 shares of the business’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 $148,015.35. Following the transaction, the chief technology officer now directly owns 140,302 shares in the company, valued at $4,777,283.10. The trade was a 3.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicolas Jammet sold 170,199 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the completion of the sale, the insider now directly owns 1,760,034 shares of the company’s stock, valued at approximately $66,406,082.82. This represents a 8.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 640,838 shares of company stock worth $24,800,733. Corporate insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its holdings in Sweetgreen by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock worth $3,993,000 after buying an additional 314 shares during the period. Evolutionary Tree Capital Management LLC boosted its holdings in shares of Sweetgreen by 0.7% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after acquiring an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sweetgreen by 2.0% in the third 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 period. KBC Group NV raised its holdings in shares of Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the last quarter. Finally, Pier Capital LLC lifted its position in Sweetgreen by 0.3% during the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after purchasing an additional 761 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Trading Up 1.1 %

Shares of NYSE SG opened at $35.10 on Friday. Sweetgreen has a 12-month low of $9.66 and a 12-month high of $45.12. The firm’s 50-day moving average price is $38.16 and its 200-day moving average price is $33.54. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -45.00 and a beta of 2.32.

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.