Sweetgreen, Inc. (NYSE:SG) CFO Sells $265,040.00 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total value of $265,040.00. Following the completion of the transaction, the chief financial officer now owns 350,981 shares in the company, valued at $11,628,000.53. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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.
• On Monday, November 18th, Mitch Reback sold 9,507 shares of Sweetgreen stock. The stock was sold at an average price of $34.05, for a total value of $323,713.35.

Sweetgreen Stock Performance

Shares of NYSE SG traded up $0.26 during midday trading on Friday, reaching $33.49. 1,503,438 shares of the company traded hands, compared to its average volume of 2,222,811. The stock’s 50-day simple moving average is $36.16 and its 200-day simple moving average is $33.71. Sweetgreen, Inc. has a 12 month low of $10.07 and a 12 month high of $45.12. The firm has a market cap of $3.87 billion, a PE ratio of -42.93 and a beta of 2.38.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SG shares. UBS Group upped their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. KeyCorp assumed coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Sweetgreen in a report on Friday, November 8th. Oppenheimer decreased their price objective on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup upgraded shares of Sweetgreen from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $49.00 in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.10.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Sweetgreen in the third quarter valued at approximately $35,000. KBC Group NV boosted its stake in Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Sweetgreen by 68.4% during the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after purchasing an additional 1,728 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sweetgreen in the third quarter valued at $155,000. Finally, Canton Hathaway LLC bought a new position in shares of Sweetgreen in the third quarter valued at about $177,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.