Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells $193,318.56 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,109 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were 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 approximately $8,344,548.32. The trade was a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 value of $288,774.18.
• 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.

Sweetgreen Price Performance

SG stock opened at $24.44 on Friday. The business has a fifty day moving average price of $27.46 and a 200 day moving average price of $33.04. Sweetgreen, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $45.12. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -31.33 and a beta of 2.44.

Wall Street Analyst Weigh In

Several equities analysts have commented on SG shares. UBS Group cut their price target on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler cut their price target on Sweetgreen from $39.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their price target on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, Oppenheimer dropped their target price on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently bought and sold shares of SG. Massachusetts Financial Services Co. MA acquired a new stake in Sweetgreen during the 4th quarter valued at $52,558,000. Invesco Ltd. increased its holdings 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 in the last quarter. Wellington Management Group LLP increased 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 valued at $142,106,000 after purchasing an additional 1,025,341 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in Sweetgreen by 189.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company’s stock valued at $36,369,000 after purchasing an additional 743,157 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in 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 buying an additional 669,657 shares during the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.