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

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the sale, the chief financial officer now owns 344,055 shares in the company, valued at $9,093,373.65. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, January 15th, Mitch Reback sold 8,000 shares of Sweetgreen stock. The stock was 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 shares were sold at an average price of $37.77, for a total transaction of $2,719,440.00.

Sweetgreen Price Performance

SG opened at $23.61 on Friday. Sweetgreen, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $45.12. The company’s 50 day moving average price is $31.44 and its two-hundred day moving average price is $34.33. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -30.26 and a beta of 2.37.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sweetgreen in the fourth quarter valued at about $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 purchasing an additional 1,601,666 shares during the period. Wellington Management Group LLP raised its holdings in Sweetgreen by 30.1% during the 4th quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company’s stock worth $142,106,000 after purchasing an additional 1,025,341 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Sweetgreen by 189.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock worth $36,369,000 after purchasing an additional 743,157 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Sweetgreen by 848.5% in the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company’s stock valued at $24,000,000 after purchasing an additional 669,657 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on SG. Oppenheimer cut their price target on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. UBS Group lifted their target price 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 began coverage on shares of Sweetgreen in a research note on Wednesday, December 11th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, Morgan Stanley decreased their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

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.