Mitch Reback Sells 10,926 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 10,926 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at $9,093,373.65. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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.
• 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.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded down $1.34 during trading on Wednesday, hitting $23.27. The stock had a trading volume of 5,140,067 shares, compared to its average volume of 2,944,618. The business has a fifty day moving average of $32.04 and a two-hundred day moving average of $34.49. Sweetgreen, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $45.12. The firm has a market cap of $2.69 billion, a P/E ratio of -29.83 and a beta of 2.37.

Analysts Set New Price Targets

Several research firms have weighed in on SG. Morgan Stanley dropped their target price on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. UBS Group raised their target price on Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. Oppenheimer dropped their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in Sweetgreen by 3.4% in the fourth quarter. FMR LLC now owns 10,103,969 shares of the company’s stock valued at $323,933,000 after acquiring an additional 329,789 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sweetgreen by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 9,544,885 shares of the company’s stock valued at $306,009,000 after buying an additional 351,240 shares during the period. Invesco Ltd. boosted its stake in Sweetgreen by 40.9% during the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company’s stock worth $176,850,000 after buying an additional 1,601,666 shares in the last quarter. Wellington Management Group LLP raised its position in Sweetgreen by 30.1% in the fourth 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 in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Sweetgreen by 13.3% during the third quarter. Lord Abbett & CO. LLC now owns 2,313,996 shares of the company’s stock valued at $82,032,000 after acquiring an additional 272,340 shares during the period. Institutional investors and hedge funds 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.