Mitch Reback Sells 8,109 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,109 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.84, for a total transaction of $193,318.56. Following the transaction, the chief financial officer now directly owns 350,023 shares in the company, valued at approximately $8,344,548.32. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were 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 shares were sold at an average price of $33.13, for a total transaction of $265,040.00.

Sweetgreen Stock Down 1.9 %

Shares of SG traded down $0.47 during trading hours on Tuesday, reaching $23.66. 2,127,549 shares of the company traded hands, compared to its average volume of 3,082,971. The stock has a market capitalization of $2.77 billion, a P/E ratio of -30.33 and a beta of 2.44. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12. The business has a fifty day moving average price of $27.94 and a 200-day moving average price of $33.22.

Analyst Ratings Changes

SG has been the topic of several research reports. Morgan Stanley cut their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. KeyCorp began coverage on shares of Sweetgreen in a report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Oppenheimer cut their price target on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. UBS Group cut their price target on shares of Sweetgreen from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SG. Oppenheimer & Co. Inc. lifted its position in Sweetgreen by 9.9% during the third quarter. Oppenheimer & Co. Inc. now owns 26,483 shares of the company’s stock valued at $939,000 after purchasing an additional 2,380 shares during the period. KBC Group NV lifted its position in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after purchasing an additional 704 shares during the period. Natixis Advisors LLC lifted its position in Sweetgreen by 91.9% during the third quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after purchasing an additional 14,545 shares during the period. Quest Partners LLC lifted its position in Sweetgreen by 68.4% during the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after purchasing an additional 1,728 shares during the period. Finally, GLOBALT Investments LLC GA acquired a new position in Sweetgreen during the third quarter valued at $591,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.