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

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

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

• On Tuesday, February 18th, Mitch Reback sold 10,926 shares of Sweetgreen stock. The shares were 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 transaction of $265,040.00.

Sweetgreen Stock Down 1.9 %

SG stock opened at $23.66 on Wednesday. The business has a 50 day moving average price of $27.78 and a 200 day moving average price of $33.16. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -30.33 and a beta of 2.44. Sweetgreen, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $45.12.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their price objective on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Oppenheimer decreased their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, TD Securities decreased their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SG. Massachusetts Financial Services Co. MA purchased a new position in shares of Sweetgreen in the 4th quarter valued at $52,558,000. Invesco Ltd. grew its position in shares of Sweetgreen by 40.9% during the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after acquiring an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Sweetgreen by 30.1% during the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after acquiring an additional 1,025,341 shares during the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Sweetgreen by 189.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock valued at $36,369,000 after acquiring an additional 743,157 shares during the period. Finally, Voya Investment Management LLC raised its position in Sweetgreen by 848.5% in the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock valued at $24,000,000 after purchasing an additional 669,657 shares during the last quarter. Institutional investors and hedge funds 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.