Sweetgreen (NYSE:SG) Given New $33.00 Price Target at TD Securities

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

A number of other research analysts have also recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday. Morgan Stanley reduced their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group lowered their price objective on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday. KeyCorp started coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, TD Cowen restated a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Sweetgreen Trading Up 0.4 %

NYSE:SG opened at $23.23 on Thursday. The firm’s fifty day simple moving average is $30.24 and its 200 day simple moving average is $34.17. Sweetgreen has a twelve month low of $11.84 and a twelve month high of $45.12. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -29.78 and a beta of 2.37.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 72,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00. Following the sale, the chief financial officer now owns 43,901 shares in the company, valued at $1,658,140.77. This represents a 62.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jonathan Neman sold 41,805 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.61, for a total value of $1,614,091.05. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $74,526,103.08. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 516,817 shares of company stock valued at $19,677,637 in the last ninety days. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently made changes to their positions in SG. Steward Partners Investment Advisory LLC raised its stake in Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares during the period. Hollencrest Capital Management bought a new position in shares of Sweetgreen during the third quarter valued at approximately $35,000. Headlands Technologies LLC raised its position in shares of Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after purchasing an additional 741 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after purchasing an additional 494 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Sweetgreen during the 4th quarter valued at approximately $53,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.