Mitch Reback Sells 10,926 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now owns 344,055 shares of the company’s stock, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, January 15th, Mitch Reback sold 8,000 shares of Sweetgreen stock. The shares were sold at an average price of $33.13, for a total value of $265,040.00.
• On Monday, December 9th, Mitch Reback sold 72,000 shares of Sweetgreen stock. The shares were sold at an average price of $37.77, for a total value of $2,719,440.00.

Sweetgreen Trading Up 1.5 %

SG stock opened at $23.61 on Friday. Sweetgreen, Inc. has a 1-year low of $10.93 and a 1-year high of $45.12. The firm has a market cap of $2.73 billion, a PE ratio of -30.26 and a beta of 2.37. The business’s 50-day moving average price is $31.44 and its two-hundred day moving average price is $34.33.

Analyst Upgrades and Downgrades

SG has been the subject of several recent research reports. KeyCorp began coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Morgan Stanley cut their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Oppenheimer lowered their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a research note on Friday, November 8th. Finally, UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently modified their holdings of SG. Steward Partners Investment Advisory LLC raised its stake in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the period. Hollencrest Capital Management bought a new position in shares of Sweetgreen during the third quarter worth about $35,000. Headlands Technologies LLC raised its position in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after buying an additional 741 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Sweetgreen by 45.7% in the 4th 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 in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Sweetgreen during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

About Sweetgreen

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.