Mitch Reback Sells 8,000 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the sale, the chief financial officer now directly owns 350,981 shares in the company, valued at $11,628,000.53. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, December 9th, Mitch Reback sold 72,000 shares of Sweetgreen stock. The stock was sold at an average price of $37.77, for a total value of $2,719,440.00.
• 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 Trading Up 0.8 %

Shares of NYSE SG opened at $33.49 on Friday. Sweetgreen, Inc. has a 52-week low of $10.07 and a 52-week high of $45.12. The stock has a 50 day moving average price of $36.04 and a 200 day moving average price of $33.74.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of SG. Commonwealth Equity Services LLC purchased a new position in Sweetgreen during the 2nd quarter valued at about $279,000. State of New Jersey Common Pension Fund D purchased a new position in Sweetgreen during the second quarter valued at approximately $1,903,000. American Century Companies Inc. raised its stake in Sweetgreen by 795.0% in the second quarter. American Century Companies Inc. now owns 101,585 shares of the company’s stock worth $3,062,000 after buying an additional 90,235 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Sweetgreen by 32.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 26,079 shares of the company’s stock worth $786,000 after buying an additional 6,419 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Sweetgreen by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock valued at $53,151,000 after acquiring an additional 39,823 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Oppenheimer dropped their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. KeyCorp assumed coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $49.00 in a research note on Friday, January 10th. Finally, 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. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus target price of $41.10.

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.