Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 72,000 Shares

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 72,000 shares of Sweetgreen stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $37.77, for a total value of $2,719,440.00. Following the transaction, the chief financial officer now owns 43,901 shares of the company’s stock, valued at approximately $1,658,140.77. This represents a 62.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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 transaction of $323,713.35.

Sweetgreen Stock Performance

Shares of SG opened at $34.47 on Friday. The stock has a 50 day moving average price of $38.37 and a 200 day moving average price of $33.38. Sweetgreen, Inc. has a one year low of $9.66 and a one year high of $45.12. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -44.19 and a beta of 2.32.

Institutional Investors Weigh In On Sweetgreen

A number of large investors have recently modified their holdings of SG. Lord Abbett & CO. LLC boosted its position in Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock worth $82,032,000 after acquiring an additional 272,340 shares during the last quarter. Franklin Resources Inc. lifted its stake in Sweetgreen by 1,399.0% in the 3rd quarter. Franklin Resources Inc. now owns 111,074 shares of the company’s stock worth $4,365,000 after purchasing an additional 103,664 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Sweetgreen by 848.2% during the 3rd quarter. Tidal Investments LLC now owns 270,141 shares of the company’s stock worth $9,576,000 after purchasing an additional 241,652 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Sweetgreen by 0.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 311,630 shares of the company’s stock valued at $11,048,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Sweetgreen by 5.4% in the third quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after purchasing an additional 116,243 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

SG has been the topic of several analyst reports. TD Cowen restated a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Bank of America upped their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. KeyCorp began coverage on Sweetgreen in a report on Wednesday. They issued a “sector weight” rating on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.80.

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.