Sweetgreen (NYSE:SG) Receives Buy Rating from TD Cowen

TD Cowen reiterated their buy rating on shares of Sweetgreen (NYSE:SG) in a report issued on Monday,Benzinga reports. TD Cowen currently has a $45.00 price target on the stock.

SG has been the topic of a number of other research reports. Citigroup raised their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Oppenheimer raised their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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. UBS Group upped their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Bank of America boosted their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.80.

Sweetgreen Trading Up 0.9 %

SG opened at $33.82 on Monday. The business’s 50-day simple moving average is $36.35 and its 200-day simple moving average is $32.02. Sweetgreen has a one year low of $9.21 and a one year high of $42.77.

Insider Activity at Sweetgreen

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 0.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicolas Jammet sold 169,767 shares of Sweetgreen stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,565.59. Following the completion of the sale, the insider now owns 1,930,233 shares in the company, valued at approximately $69,044,434.41. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 441,715 shares of company stock worth $15,856,543 in the last three months. Insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SG. Hollencrest Capital Management acquired a new position in shares of Sweetgreen during the 3rd quarter worth $35,000. Quest Partners LLC acquired a new position in Sweetgreen during the second quarter worth about $76,000. KBC Group NV increased its holdings in Sweetgreen by 29.1% in 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 stake in shares of Sweetgreen during the 3rd quarter valued at approximately $155,000. Finally, Canton Hathaway LLC purchased a new stake in shares of Sweetgreen during the 3rd quarter worth approximately $177,000. Hedge funds and other institutional investors 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.