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 firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the sale, the chief financial officer now owns 350,023 shares of the company’s stock, valued at $8,344,548.32. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction 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 value of $265,040.00.

Sweetgreen Stock Up 1.2 %

Shares of Sweetgreen stock opened at $23.92 on Thursday. Sweetgreen, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $45.12. The business’s fifty day moving average is $27.61 and its two-hundred day moving average is $33.10. The firm has a market cap of $2.81 billion, a PE ratio of -30.66 and a beta of 2.44.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Sweetgreen by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company’s stock valued at $936,000 after buying an additional 1,278 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Sweetgreen in the fourth quarter worth approximately $5,492,000. Forum Financial Management LP grew its holdings in Sweetgreen by 17.5% in the fourth quarter. Forum Financial Management LP now owns 8,112 shares of the company’s stock valued at $260,000 after purchasing an additional 1,209 shares during the period. Neo Ivy Capital Management acquired a new position in Sweetgreen during the fourth quarter worth approximately $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Sweetgreen by 18.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 226,552 shares of the company’s stock worth $7,263,000 after purchasing an additional 35,276 shares during the period. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SG has been the topic of several research reports. Oppenheimer lowered their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Citigroup lowered their price objective 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. The Goldman Sachs Group cut their target price on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. TD Securities lowered their price target on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average price target of $36.27.

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.