Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells 8,000 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the sale, the chief financial officer now directly owns 350,981 shares in the company, valued at approximately $11,628,000.53. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 9th, Mitch Reback sold 72,000 shares of Sweetgreen stock. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00.
• On Monday, November 18th, Mitch Reback sold 9,507 shares of Sweetgreen stock. The shares were sold at an average price of $34.05, for a total transaction of $323,713.35.

Sweetgreen Trading Up 0.8 %

Shares of NYSE:SG opened at $33.49 on Friday. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of -42.93 and a beta of 2.38. Sweetgreen, Inc. has a 12-month low of $10.07 and a 12-month high of $45.12. The business has a 50-day moving average price of $36.04 and a 200 day moving average price of $33.78.

Analyst Upgrades and Downgrades

SG has been the topic of a number of research reports. UBS Group raised their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Citigroup upgraded Sweetgreen from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $49.00 in a report on Friday, January 10th. KeyCorp assumed coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating on the stock. Finally, Oppenheimer dropped their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen presently has an average rating of “Moderate Buy” and an average target price of $41.10.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SG. Janney Montgomery Scott LLC lifted its stake in Sweetgreen by 27.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company’s stock worth $375,000 after purchasing an additional 2,488 shares in the last quarter. Liberty One Investment Management LLC acquired a new position in Sweetgreen during the 4th quarter worth about $582,000. Cypress Wealth Services LLC lifted its stake in Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after acquiring an additional 483 shares in the last quarter. Cox Capital Mgt LLC boosted its holdings in Sweetgreen by 76.0% during 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 period. Finally, PSI Advisors LLC increased its stake in Sweetgreen by 64.0% during the fourth quarter. PSI Advisors LLC now owns 11,008 shares of the company’s stock worth $353,000 after purchasing an additional 4,295 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.