TD Securities Cuts Sweetgreen (NYSE:SG) Price Target to $33.00

Sweetgreen (NYSE:SG) had its price objective decreased by TD Securities from $45.00 to $33.00 in a report released on Thursday,Benzinga reports. TD Securities currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Morgan Stanley cut their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. The Goldman Sachs Group cut their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday. KeyCorp initiated coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Oppenheimer cut their price target on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, Citigroup cut their price target on Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average target price of $36.27.

Sweetgreen Stock Down 2.1 %

NYSE:SG opened at $22.67 on Thursday. The stock’s 50-day simple moving average is $29.99 and its 200 day simple moving average is $34.09. The firm has a market capitalization of $2.62 billion, a PE ratio of -29.07 and a beta of 2.37. Sweetgreen has a twelve month low of $12.32 and a twelve month high of $45.12.

Insider Buying and Selling

In other Sweetgreen 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 value of $1,624,521.32. Following the completion of the sale, the insider now directly owns 1,930,233 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 516,817 shares of company stock valued at $19,677,637 over the last ninety days. 21.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. increased its stake in Sweetgreen by 4.7% in the fourth 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 increased its stake in Sweetgreen by 6.1% in the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after purchasing an additional 483 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Sweetgreen by 45.7% in the fourth 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after purchasing an additional 537 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in Sweetgreen by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after purchasing an additional 600 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

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.