Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells 8,109 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,109 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 350,023 shares in the company, valued at $8,344,548.32. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 stock was sold at an average price of $33.13, for a total value of $265,040.00.

Sweetgreen Trading Up 2.2 %

Shares of Sweetgreen stock opened at $24.44 on Friday. The company has a market capitalization of $2.87 billion, a PE ratio of -31.33 and a beta of 2.44. Sweetgreen, Inc. has a 12 month low of $18.77 and a 12 month high of $45.12. The stock’s fifty day simple moving average is $27.46 and its 200 day simple moving average is $33.04.

Institutional Trading of Sweetgreen

Several hedge funds have recently added to or reduced their stakes in SG. Summit Investment Advisors Inc. raised its stake in shares of Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company’s stock valued at $336,000 after purchasing an additional 473 shares during the period. Cypress Wealth Services LLC raised its stake in shares of Sweetgreen by 6.1% in the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock valued at $270,000 after purchasing an additional 483 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock valued at $50,000 after purchasing an additional 494 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Sweetgreen by 1.2% in the 4th 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 period. Finally, Oberweis Asset Management Inc. raised its stake in shares of Sweetgreen by 0.6% in the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company’s stock valued at $3,084,000 after purchasing an additional 610 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Securities reduced their price target on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. KeyCorp assumed coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Oppenheimer reduced their price target on Sweetgreen from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

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.