Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells 8,109 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,109 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the transaction, the chief financial officer now owns 350,023 shares of the company’s stock, valued at approximately $8,344,548.32. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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.
• 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 transaction of $265,040.00.

Sweetgreen Stock Performance

Shares of SG traded down $0.47 during mid-day trading on Tuesday, hitting $23.66. 2,127,549 shares of the company were exchanged, compared to its average volume of 3,082,971. Sweetgreen, Inc. has a 1-year low of $18.77 and a 1-year high of $45.12. The company has a 50 day moving average of $27.94 and a 200-day moving average of $33.22. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -30.33 and a beta of 2.44.

Institutional Trading of Sweetgreen

Several large investors have recently bought and sold shares of SG. Massachusetts Financial Services Co. MA purchased a new stake in Sweetgreen during the 4th quarter valued at about $52,558,000. Invesco Ltd. grew its stake in Sweetgreen by 40.9% during the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after acquiring an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP grew its stake in Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock valued at $142,106,000 after acquiring an additional 1,025,341 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in Sweetgreen by 189.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock valued at $36,369,000 after acquiring an additional 743,157 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Sweetgreen by 848.5% during the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock valued at $24,000,000 after acquiring an additional 669,657 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SG. TD Securities decreased their price objective on shares of Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Piper Sandler decreased 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. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. KeyCorp began coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Finally, The Goldman Sachs Group decreased their price objective 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. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sweetgreen currently 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.