Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells $288,774.18 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 10,926 shares of the company’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 owns 344,055 shares of the company’s stock, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, January 15th, Mitch Reback sold 8,000 shares of Sweetgreen stock. The shares were sold at an average price of $33.13, for a total transaction 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 transaction of $2,719,440.00.

Sweetgreen Stock Performance

Sweetgreen stock opened at $21.87 on Friday. The firm’s 50-day moving average is $31.19 and its 200-day moving average is $34.32. Sweetgreen, Inc. has a 1 year low of $11.16 and a 1 year high of $45.12. The company has a market cap of $2.53 billion, a P/E ratio of -28.03 and a beta of 2.37.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen reissued a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Oppenheimer decreased their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. KeyCorp assumed coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, Citigroup decreased their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.60.

Institutional Trading of Sweetgreen

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in Sweetgreen by 3.4% in the 4th quarter. FMR LLC now owns 10,103,969 shares of the company’s stock valued at $323,933,000 after purchasing an additional 329,789 shares during the last quarter. Vanguard Group Inc. lifted its position in Sweetgreen by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after purchasing an additional 351,240 shares during the last quarter. Invesco Ltd. lifted its position in Sweetgreen by 40.9% in the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock valued at $176,850,000 after purchasing an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP lifted its position in Sweetgreen by 30.1% in the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock valued at $142,106,000 after purchasing an additional 1,025,341 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in Sweetgreen by 13.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after purchasing an additional 272,340 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors.

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.