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

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,109 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.84, for a total value of $193,318.56. Following the sale, the chief financial officer now owns 350,023 shares of the company’s stock, valued at $8,344,548.32. The trade was a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 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 stock was sold at an average price of $33.13, for a total transaction of $265,040.00.

Sweetgreen Trading Up 1.2 %

Shares of NYSE:SG opened at $23.92 on Thursday. Sweetgreen, Inc. has a 12-month low of $18.77 and a 12-month high of $45.12. The firm has a market cap of $2.81 billion, a PE ratio of -30.66 and a beta of 2.44. The company has a fifty day simple moving average of $27.61 and a 200 day simple moving average of $33.10.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GLOBALT Investments LLC GA acquired a new position in Sweetgreen in the third quarter worth about $591,000. Verition Fund Management LLC grew its position in shares of Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after acquiring an additional 113,586 shares in the last quarter. Cox Capital Mgt LLC increased its holdings in shares of Sweetgreen by 76.0% in the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock valued at $1,728,000 after acquiring an additional 23,278 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Sweetgreen by 91.9% in the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company’s stock valued at $1,077,000 after acquiring an additional 14,545 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Sweetgreen by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,249,409 shares of the company’s stock valued at $79,757,000 after acquiring an additional 116,243 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup decreased their price target on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Morgan Stanley reduced their price target 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. Finally, KeyCorp began coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.