Sweetgreen, Inc. (NYSE:SG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $14.11.

Several brokerages have weighed in on SG. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 target price on shares of Sweetgreen in a research note on Friday, September 15th. Citigroup lowered their target price on shares of Sweetgreen from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Morgan Stanley restated an “equal weight” rating and issued a $14.00 target price on shares of Sweetgreen in a research note on Monday, July 31st. Piper Sandler lowered their price objective on shares of Sweetgreen from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sweetgreen from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, November 8th.

Sweetgreen Stock Down 3.1 %

Shares of SG stock opened at $9.87 on Friday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -8.22 and a beta of 2.05. The company’s 50 day moving average is $11.11 and its 200 day moving average is $11.90. Sweetgreen has a 52-week low of $6.10 and a 52-week high of $16.58.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 5,399 shares of Sweetgreen stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $14.53, for a total value of $78,447.47. Following the completion of the transaction, the insider now owns 134,512 shares of the company’s stock, valued at $1,954,459.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicolas Jammet sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $14.20, for a total transaction of $355,000.00. Following the completion of the sale, the insider now owns 2,100,000 shares of the company’s stock, valued at $29,820,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 5,399 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $14.53, for a total transaction of $78,447.47. Following the sale, the insider now directly owns 134,512 shares of the company’s stock, valued at approximately $1,954,459.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 226,187 shares of company stock valued at $2,959,762. Corporate insiders own 22.03% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its holdings in Sweetgreen by 73.5% in the 2nd quarter. Baillie Gifford & Co. now owns 9,102,180 shares of the company’s stock valued at $116,690,000 after purchasing an additional 3,857,115 shares during the last quarter. Solas Capital Management LLC acquired a new position in Sweetgreen in the 1st quarter valued at about $12,352,000. Invesco Ltd. boosted its holdings in Sweetgreen by 1,435.2% in the 3rd quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock valued at $19,679,000 after purchasing an additional 1,565,700 shares during the last quarter. Spyglass Capital Management LLC acquired a new position in Sweetgreen in the 2nd quarter valued at about $18,638,000. Finally, First Manhattan CO. LLC. boosted its holdings in Sweetgreen by 421.6% in the 1st quarter. First Manhattan CO. LLC. now owns 1,262,265 shares of the company’s stock valued at $9,896,000 after purchasing an additional 1,020,265 shares during the last quarter. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.