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

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 10,926 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was 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 stock was sold at an average price of $37.77, for a total value of $2,719,440.00.

Sweetgreen Price Performance

Shares of NYSE SG opened at $23.27 on Thursday. The business has a 50-day moving average of $31.73 and a 200-day moving average of $34.41. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -29.83 and a beta of 2.37. Sweetgreen, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $45.12.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SG. Massachusetts Financial Services Co. MA bought a new position in shares of Sweetgreen in the 4th quarter valued at about $52,558,000. Invesco Ltd. grew its holdings in Sweetgreen by 40.9% during the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after purchasing an additional 1,601,666 shares during the period. Wellington Management Group LLP increased its position 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 last quarter. Frontier Capital Management Co. LLC raised its stake in Sweetgreen by 189.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock valued at $36,369,000 after buying an additional 743,157 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Sweetgreen by 848.5% in the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock valued at $24,000,000 after buying an additional 669,657 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SG. Citigroup lowered their target price on Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Oppenheimer dropped their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. KeyCorp initiated coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating for the company. Finally, 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. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

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.