Sweetgreen (NYSE:SG) Earns Neutral Rating from The Goldman Sachs Group

The Goldman Sachs Group restated their neutral rating on shares of Sweetgreen (NYSE:SG) in a research report sent to investors on Friday, Marketbeat.com reports. They currently have a $40.00 target price on the stock.

SG has been the subject of several other reports. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. UBS Group upped 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. Citigroup upped their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Morgan Stanley boosted their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Oppenheimer boosted their target price on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Price Performance

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

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares of the company’s stock, valued at approximately $69,044,255.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Nathaniel Ru sold 9,250 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the completion of the transaction, the insider now directly owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 466,022 shares of company stock valued at $16,671,481 in the last ninety days. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of SG. Hollencrest Capital Management acquired a new stake in shares of Sweetgreen in the 3rd quarter worth approximately $35,000. Quest Partners LLC acquired a new stake in Sweetgreen during the 2nd quarter valued at $76,000. KBC Group NV grew its holdings in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Sweetgreen during the 3rd quarter valued at $216,000. Finally, Versor Investments LP acquired a new stake in Sweetgreen during the 2nd quarter valued at $217,000. Institutional investors and hedge funds 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.