Sweetgreen (NYSE:SG) Given New $39.00 Price Target at Citigroup

Sweetgreen (NYSE:SG) had its price target decreased by Citigroup from $43.00 to $39.00 in a report published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. TD Securities cut their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a report on Thursday. UBS Group cut their target price on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen reissued a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. KeyCorp began coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Stock Up 0.4 %

SG opened at $23.23 on Thursday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -29.78 and a beta of 2.37. Sweetgreen has a twelve month low of $11.84 and a twelve month high of $45.12. The company has a 50-day simple moving average of $30.24 and a 200 day simple moving average of $34.17.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet sold 41,999 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.68, for a total transaction of $1,624,521.32. Following the completion of the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the sale, the chief financial officer now directly owns 350,981 shares in the company, valued at approximately $11,628,000.53. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 516,817 shares of company stock worth $19,677,637. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in shares of Sweetgreen in the third quarter worth approximately $35,000. Steward Partners Investment Advisory LLC raised its holdings in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after purchasing an additional 741 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after purchasing an additional 494 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen during the fourth quarter worth $53,000. 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.