Sweetgreen, Inc. (NYSE:SG) CFO Sells $84,280.00 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 4,000 shares of Sweetgreen stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the sale, the chief financial officer now directly owns 344,509 shares in the company, valued at approximately $7,258,804.63. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 17th, Mitch Reback sold 8,109 shares of Sweetgreen stock. The shares were 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 Stock Performance

Sweetgreen stock opened at $18.54 on Friday. The company has a market capitalization of $2.17 billion, a PE ratio of -23.77 and a beta of 2.28. The company has a 50 day moving average price of $23.35 and a 200-day moving average price of $31.36. Sweetgreen, Inc. has a fifty-two week low of $18.46 and a fifty-two week high of $45.12.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Sweetgreen by 3.4% in the fourth 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 in the last quarter. Vanguard Group Inc. boosted 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 valued at $306,009,000 after purchasing an additional 351,240 shares in the last quarter. Invesco Ltd. raised its stake in Sweetgreen by 40.9% in the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after buying an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 buying an additional 1,025,341 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Sweetgreen by 13.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SG has been the subject of several analyst reports. The Goldman Sachs Group lowered their price objective on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Morgan Stanley set a $24.00 price objective on shares of Sweetgreen in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Oppenheimer dropped their price target on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, UBS Group reduced their price objective on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.91.

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.