Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells 8,109 Shares of Stock

Sweetgreen, Inc. (NYSE:SG - Get Free Report) CFO Mitch Reback sold 8,109 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.84, for a total transaction of $193,318.56. Following the completion of the sale, the chief financial officer now directly owns 350,023 shares in the company, valued at $8,344,548.32. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, February 18th, Mitch Reback sold 10,926 shares of Sweetgreen stock. The stock was sold at an average price of $26.43, for a total value 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 value of $265,040.00.

Sweetgreen Price Performance

Sweetgreen stock traded up $0.54 during trading hours on Friday, reaching $24.97. The stock had a trading volume of 4,235,812 shares, compared to its average volume of 3,089,389. Sweetgreen, Inc. has a 52 week low of $18.77 and a 52 week high of $45.12. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -32.01 and a beta of 2.44. The business's 50 day moving average price is $27.30 and its 200-day moving average price is $32.99.

Remove Ads

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently bought and sold shares of SG. Massachusetts Financial Services Co. MA acquired a new position in shares of Sweetgreen during the fourth quarter worth $52,558,000. Invesco Ltd. increased its position in Sweetgreen by 40.9% during the 4th quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock valued at $176,850,000 after buying an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP raised its stake in Sweetgreen by 30.1% in the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company's stock valued at $142,106,000 after buying an additional 1,025,341 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Sweetgreen by 189.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock worth $36,369,000 after acquiring an additional 743,157 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Sweetgreen by 848.5% during the fourth quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock worth $24,000,000 after acquiring an additional 669,657 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Analysts Set New Price Targets

SG has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Oppenheimer dropped their target price on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Morgan Stanley dropped their price objective on Sweetgreen from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Finally, Citigroup decreased their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.27.

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.