Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 72,000 Shares

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 72,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $37.77, for a total value of $2,719,440.00. Following the completion of the transaction, the chief financial officer now directly owns 43,901 shares of the company’s stock, valued at $1,658,140.77. The trade was a 62.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, November 18th, Mitch Reback sold 9,507 shares of Sweetgreen stock. The shares were sold at an average price of $34.05, for a total value of $323,713.35.

Sweetgreen Price Performance

SG opened at $37.73 on Friday. Sweetgreen, Inc. has a 12 month low of $9.66 and a 12 month high of $45.12. The stock has a market cap of $4.36 billion, a P/E ratio of -48.37 and a beta of 2.32. The stock’s 50 day moving average price is $38.36 and its 200 day moving average price is $33.36.

Analyst Upgrades and Downgrades

SG has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Oppenheimer boosted their target price on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. UBS Group boosted their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Bank of America upped their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, KeyCorp initiated coverage on Sweetgreen in a research report on Wednesday. They set a “sector weight” rating on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Hedge Funds Weigh In On Sweetgreen

Hedge funds have recently modified their holdings of the company. GLOBALT Investments LLC GA acquired a new position in shares of Sweetgreen in the 3rd quarter worth $591,000. Oliver Luxxe Assets LLC acquired a new stake in shares of Sweetgreen in the third quarter worth $1,973,000. Verition Fund Management LLC boosted its position in shares of Sweetgreen by 189.6% in the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after buying an additional 113,586 shares during the period. Davidson Kempner Capital Management LP boosted its position in shares of Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after buying an additional 164,600 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Sweetgreen in the third quarter worth $3,329,000. 95.75% of the stock is currently 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.