Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 4,000 Shares

Sweetgreen, Inc. (NYSE:SG - Get Free Report) CFO Mitch Reback sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total value of $84,280.00. Following the transaction, the chief financial officer now directly owns 344,509 shares of the company's stock, valued at approximately $7,258,804.63. The trade was a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 17th, Mitch Reback sold 8,109 shares of Sweetgreen stock. The shares were sold at an average price of $23.84, for a total transaction of $193,318.56.
• 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 transaction of $288,774.18.

Sweetgreen Trading Down 8.3 %

Shares of Sweetgreen stock traded down $1.53 during trading hours on Monday, reaching $16.95. The stock had a trading volume of 7,536,947 shares, compared to its average volume of 3,318,690. Sweetgreen, Inc. has a 1 year low of $16.29 and a 1 year high of $45.12. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -21.73 and a beta of 2.28. The firm has a 50 day simple moving average of $23.16 and a two-hundred day simple moving average of $31.19.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SG. Steward Partners Investment Advisory LLC increased its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. Headlands Technologies LLC boosted its stake in Sweetgreen by 156.0% during the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after purchasing an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after acquiring an additional 494 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Sweetgreen in the 4th quarter worth approximately $53,000. Finally, Denver PWM LLC acquired a new position in Sweetgreen in the fourth quarter worth approximately $60,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SG has been the subject of several recent research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Citigroup cut their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group decreased their price target on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Piper Sandler dropped their target price on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Oppenheimer cut their price target on shares of Sweetgreen from $41.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.91.

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.