Oppenheimer Issues Positive Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG) had its price objective lifted by Oppenheimer from $40.00 to $45.00 in a research report report published on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. Morgan Stanley increased their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. TD Cowen reaffirmed a “buy” rating and issued a $43.00 price target on shares of Sweetgreen in a report on Friday, September 27th. Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. UBS Group raised their price objective on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Trading Down 1.1 %

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

Insider Activity at Sweetgreen

In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $102,793.61. Following the completion of the transaction, the chief technology officer now directly owns 144,649 shares of the company’s stock, valued at approximately $5,252,205.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Nicolas Jammet sold 16,751 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total transaction of $670,710.04. Following the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at $77,286,529.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Wouleta Ayele sold 2,831 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the transaction, the chief technology officer now directly owns 144,649 shares of the company’s stock, valued at $5,252,205.19. 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 a total of 466,022 shares of company stock worth $16,671,481 over the last quarter. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its position in shares of Sweetgreen by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after buying an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC boosted its stake in shares of Sweetgreen by 0.7% in the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after acquiring an additional 474 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Sweetgreen by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares in the last quarter. KBC Group NV raised its stake in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in Sweetgreen in the 3rd quarter valued at $35,000. 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.