Sweetgreen (NYSE:SG) Price Target Cut to $32.00 by Analysts at The Goldman Sachs Group

Sweetgreen (NYSE:SG) had its price objective dropped by equities researchers at The Goldman Sachs Group from $37.00 to $32.00 in a research report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 36.54% from the stock’s current price.

Several other research analysts have also commented on the company. Oppenheimer decreased their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Citigroup reduced their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. KeyCorp began coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Morgan Stanley reduced their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, UBS Group upped their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $23.44 on Thursday. The business’s 50-day simple moving average is $30.47 and its 200 day simple moving average is $34.25. The company has a market cap of $2.71 billion, a P/E ratio of -30.05 and a beta of 2.37. Sweetgreen has a one year low of $11.31 and a one year high of $45.12.

Insider Buying and Selling

In other Sweetgreen news, insider Nathaniel Ru sold 53,718 shares of Sweetgreen stock in a transaction on Monday, December 9th. The stock was sold at an average price of $38.70, for a total value of $2,078,886.60. Following the completion of the transaction, the insider now directly owns 1,952,129 shares of the company’s stock, valued at $75,547,392.30. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicolas Jammet sold 41,999 shares of Sweetgreen stock in a transaction that occurred 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 directly owns 1,930,233 shares in the company, valued at $74,661,412.44. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 516,817 shares of company stock worth $19,677,637. 21.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock worth $323,933,000 after purchasing an additional 329,789 shares during the period. Vanguard Group Inc. boosted its holdings in Sweetgreen by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock worth $306,009,000 after acquiring an additional 351,240 shares in the last quarter. Invesco Ltd. increased its stake in Sweetgreen by 40.9% during the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after purchasing an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP increased its holdings in Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after purchasing an additional 1,025,341 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after buying an additional 272,340 shares during the last quarter. 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.