Mitch Reback Sells 4,000 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 4,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 344,509 shares in the company, valued at approximately $7,258,804.63. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 shares were sold at an average price of $26.43, for a total transaction of $288,774.18.

Sweetgreen Price Performance

Shares of NYSE:SG traded down $0.74 during trading hours on Wednesday, hitting $19.75. 3,204,592 shares of the company’s stock traded hands, compared to its average volume of 3,260,344. The business has a fifty day moving average price of $23.90 and a 200-day moving average price of $31.67. Sweetgreen, Inc. has a 1 year low of $18.62 and a 1 year high of $45.12. The firm has a market capitalization of $2.32 billion, a P/E ratio of -25.32 and a beta of 2.28.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley set a $24.00 target price on Sweetgreen in a report on Monday. TD Securities lowered their target price on Sweetgreen from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group reduced their price target on shares of Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Piper Sandler lowered 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. Finally, UBS Group decreased their target price 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and an average price target of $35.91.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its stake in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the period. Headlands Technologies LLC increased its stake in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after buying an additional 741 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after buying an additional 494 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Sweetgreen during the 4th quarter valued at about $53,000. Finally, Denver PWM LLC purchased a new stake in Sweetgreen in the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.