The Goldman Sachs Group Cuts Sweetgreen (NYSE:SG) Price Target to $32.00

Sweetgreen (NYSE:SG) had its price target decreased by The Goldman Sachs Group from $37.00 to $32.00 in a research report issued on Thursday, MarketBeat.com reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 41.14% from the company’s current price.

SG has been the topic of several other reports. Oppenheimer reduced their target price on 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 reissued an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday. TD Cowen reaffirmed a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. KeyCorp assumed coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley cut their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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 business’s 50 day simple moving average is $29.99 and its 200 day simple moving average is $34.09. Sweetgreen has a 1 year low of $12.32 and a 1 year high of $45.12. The company has a market capitalization of $2.62 billion, a P/E ratio of -29.07 and a beta of 2.37.

Insider Buying and Selling

In other Sweetgreen news, insider Nicolas Jammet sold 41,999 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.68, for a total value 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 approximately $74,661,412.44. This represents a 2.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the transaction, the chief financial officer now owns 350,981 shares in the company, valued at approximately $11,628,000.53. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,817 shares of company stock worth $19,677,637 in the last 90 days. Insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

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

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.