Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells 10,926 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 10,926 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now owns 344,055 shares in the company, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 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 value of $2,719,440.00.

Sweetgreen Stock Performance

Shares of SG opened at $23.27 on Thursday. Sweetgreen, Inc. has a 52-week low of $10.93 and a 52-week high of $45.12. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -29.83 and a beta of 2.37. The business’s fifty day moving average is $31.73 and its 200-day moving average is $34.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its stake in shares of Sweetgreen by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock worth $336,000 after buying an additional 473 shares during the last quarter. Cypress Wealth Services LLC boosted its holdings in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after acquiring an additional 483 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after acquiring an additional 494 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock worth $990,000 after purchasing an additional 537 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Sweetgreen by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company’s stock valued at $1,608,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Citigroup dropped their price target on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating on the stock. UBS Group raised their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, TD Cowen reiterated a “buy” rating and set a $45.00 target price on shares of Sweetgreen in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Sweetgreen Company Profile

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.