Sweetgreen, Inc. (NYSE:SG) CFO Sells $335,201.16 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.61, for a total transaction of $335,201.16. Following the completion of the sale, the chief financial officer now directly owns 379,181 shares of the company’s stock, valued at $13,881,816.41. The transaction 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, August 20th, Mitch Reback sold 9,497 shares of Sweetgreen stock. The stock was sold at an average price of $33.40, for a total transaction of $317,199.80.
• On Wednesday, May 22nd, Mitch Reback sold 8,837 shares of Sweetgreen stock. The stock was sold at an average price of $31.98, for a total transaction of $282,607.26.

Sweetgreen Stock Performance

Shares of Sweetgreen stock opened at $35.06 on Friday. The stock has a market capitalization of $4.00 billion, a PE ratio of -37.70 and a beta of 2.30. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $37.88. The company has a 50-day simple moving average of $28.67 and a two-hundred day simple moving average of $24.85.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. As a group, equities research analysts forecast that Sweetgreen, Inc. will post -0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Cowen raised their target price on shares of Sweetgreen from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, June 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research report on Monday. UBS Group raised their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. The Goldman Sachs Group initiated coverage on shares of Sweetgreen in a research report on Thursday, June 13th. They set a “buy” rating and a $39.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Sweetgreen in the second quarter worth approximately $76,000. Triumph Capital Management purchased a new stake in Sweetgreen in the fourth quarter worth approximately $126,000. Handelsbanken Fonder AB bought a new stake in Sweetgreen in the 4th quarter worth approximately $137,000. Versor Investments LP purchased a new stake in Sweetgreen during the 2nd quarter valued at $217,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Sweetgreen during the 1st quarter valued at $223,000. 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.