Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells 10,926 Shares of Stock

Sweetgreen, Inc. (NYSE:SG - Get Free Report) CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, 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 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 value of $265,040.00.
• On Monday, December 9th, Mitch Reback sold 72,000 shares of Sweetgreen stock. The shares were sold at an average price of $37.77, for a total value of $2,719,440.00.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded down $1.52 during midday trading on Friday, hitting $21.96. 3,652,643 shares of the company were exchanged, compared to its average volume of 3,001,580. The firm has a 50 day simple moving average of $31.44 and a 200-day simple moving average of $34.33. The firm has a market cap of $2.54 billion, a P/E ratio of -28.16 and a beta of 2.37. Sweetgreen, Inc. has a 52 week low of $11.16 and a 52 week high of $45.12.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SG shares. Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. KeyCorp initiated coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a "sector weight" rating on the stock. Citigroup cut their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. The Goldman Sachs Group reissued a "neutral" rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. 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 eight have given a buy rating to the stock. According to MarketBeat.com, Sweetgreen presently has a consensus rating of "Moderate Buy" and an average price target of $40.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SG. Summit Investment Advisors Inc. increased its position in shares of Sweetgreen by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after purchasing an additional 473 shares in the last quarter. Cypress Wealth Services LLC increased its holdings in shares of Sweetgreen by 6.1% during the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock worth $270,000 after buying an additional 483 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after acquiring an additional 494 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company's stock valued at $990,000 after acquiring an additional 537 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Sweetgreen by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock worth $1,608,000 after acquiring an additional 600 shares in the last quarter. 95.75% of the stock is 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.