Sweetgreen (NYSE:SG) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of Sweetgreen (NYSE:SG) from a neutral rating to a buy rating in a report released on Friday, MarketBeat reports. The brokerage currently has $49.00 price objective on the stock, up from their prior price objective of $44.00.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. 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. UBS Group increased their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. KeyCorp initiated coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.10.

Sweetgreen Trading Up 2.7 %

Shares of NYSE SG opened at $33.11 on Friday. The firm has a 50 day moving average of $36.78 and a 200 day moving average of $33.62. Sweetgreen has a 12-month low of $9.66 and a 12-month high of $45.12. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -42.45 and a beta of 2.38.

Insider Buying and Selling at Sweetgreen

In related news, insider Adrienne Gemperle sold 5,372 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $182,916.60. Following the sale, the insider now owns 107,313 shares of the company’s stock, valued at approximately $3,654,007.65. This represents a 4.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 1,010 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $40.01, for a total transaction of $40,410.10. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 640,838 shares of company stock worth $24,800,733. 21.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds have recently modified their holdings of SG. Hollencrest Capital Management acquired a new position in Sweetgreen during the 3rd quarter valued at about $35,000. Quest Partners LLC bought a new stake in shares of Sweetgreen in the 2nd quarter worth $76,000. KBC Group NV boosted its stake in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Sweetgreen during the third quarter worth about $155,000. Finally, Canton Hathaway LLC acquired a new stake in Sweetgreen in the 3rd quarter valued at about $177,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.