Sweetgreen (NYSE:SG) Price Target Cut to $33.00 by Analysts at TD Securities

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

SG has been the topic of several other reports. Oppenheimer cut their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. UBS Group boosted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Citigroup cut their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Price Performance

Shares of NYSE SG opened at $22.67 on Thursday. The stock has a market capitalization of $2.62 billion, a P/E ratio of -29.07 and a beta of 2.37. The company has a 50-day moving average price of $29.99 and a 200-day moving average price of $34.09. Sweetgreen has a 1 year low of $12.32 and a 1 year high of $45.12.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet sold 33,598 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $40.14, for a total value of $1,348,623.72. Following the sale, the insider now owns 1,930,233 shares of the company’s stock, valued at $77,479,552.62. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jonathan Neman sold 33,444 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $40.16, for a total transaction of $1,343,111.04. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,517,956.48. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,817 shares of company stock worth $19,677,637 over the last three months. 21.52% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

Several hedge funds and other institutional investors have recently modified their holdings of SG. Creative Planning increased its holdings in Sweetgreen by 61.7% during the 3rd quarter. Creative Planning now owns 11,439 shares of the company’s stock worth $406,000 after acquiring an additional 4,364 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Sweetgreen by 2.0% during the 3rd 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. Stephens Investment Management Group LLC increased its holdings in Sweetgreen by 139.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock worth $33,299,000 after acquiring an additional 547,816 shares during the period. Optas LLC increased its holdings in Sweetgreen by 9.1% during the 3rd quarter. Optas LLC now owns 16,778 shares of the company’s stock worth $595,000 after acquiring an additional 1,395 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in Sweetgreen by 670.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 143,441 shares of the company’s stock worth $5,085,000 after acquiring an additional 124,813 shares during the period. Institutional investors own 95.75% of the company’s stock.

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.