Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 8,109 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,109 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the transaction, the chief financial officer now owns 350,023 shares of the company’s stock, valued at approximately $8,344,548.32. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mitch Reback also recently made the following trade(s):

• On Tuesday, February 18th, Mitch Reback sold 10,926 shares of Sweetgreen stock. The stock was sold at an average price of $26.43, for a total value of $288,774.18.
• On Wednesday, January 15th, Mitch Reback sold 8,000 shares of Sweetgreen stock. The stock was sold at an average price of $33.13, for a total value of $265,040.00.

Sweetgreen Stock Down 1.9 %

Shares of NYSE:SG opened at $23.66 on Wednesday. Sweetgreen, Inc. has a 52-week low of $18.77 and a 52-week high of $45.12. The stock has a market cap of $2.77 billion, a P/E ratio of -30.33 and a beta of 2.44. The business has a fifty day moving average of $27.78 and a two-hundred day moving average of $33.16.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SG. The Goldman Sachs Group dropped their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. UBS Group cut their target price on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Oppenheimer decreased their price target on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Tuesday, February 25th. Finally, KeyCorp initiated coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.27.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently modified their holdings of the company. 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 purchasing an additional 1,000 shares during the period. Headlands Technologies LLC increased its holdings 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 buying an additional 741 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after acquiring an additional 494 shares during the last quarter. Millstone Evans Group LLC purchased a new position in Sweetgreen in the fourth quarter worth approximately $53,000. Finally, Denver PWM LLC purchased a new position in shares of Sweetgreen during the 4th quarter worth $60,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.