Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 4,000 Shares

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total value of $84,280.00. Following the transaction, the chief financial officer now directly owns 344,509 shares of the company’s stock, valued at approximately $7,258,804.63. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, March 17th, Mitch Reback sold 8,109 shares of Sweetgreen stock. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56.
• 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 transaction of $288,774.18.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $19.75 on Thursday. Sweetgreen, Inc. has a 1-year low of $18.62 and a 1-year high of $45.12. The stock has a market cap of $2.32 billion, a P/E ratio of -25.32 and a beta of 2.28. The firm has a fifty day moving average price of $23.71 and a 200 day moving average price of $31.59.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SG. UBS Group cut their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Citigroup dropped their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average target price of $35.91.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds have recently made changes to their positions in SG. FMR LLC raised its stake in Sweetgreen by 3.4% during the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock valued at $323,933,000 after acquiring an additional 329,789 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Sweetgreen by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock worth $306,009,000 after purchasing an additional 351,240 shares during the last quarter. Invesco Ltd. lifted its holdings 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 purchasing an additional 1,601,666 shares during the period. Wellington Management Group LLP lifted its holdings 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 purchasing an additional 1,025,341 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after buying an additional 272,340 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.