Insider Selling: Sweetgreen, Inc. (NYSE:SG) CFO Sells $265,040.00 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the sale, the chief financial officer now owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. The trade was a 2.23 % decrease in their position. The transaction 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 Monday, December 9th, Mitch Reback sold 72,000 shares of Sweetgreen stock. The shares were sold at an average price of $37.77, for a total value of $2,719,440.00.
• On Monday, November 18th, Mitch Reback sold 9,507 shares of Sweetgreen stock. The stock was sold at an average price of $34.05, for a total value of $323,713.35.

Sweetgreen Stock Performance

SG stock opened at $33.49 on Monday. Sweetgreen, Inc. has a one year low of $10.07 and a one year high of $45.12. The company has a fifty day moving average of $36.04 and a 200-day moving average of $33.82. The stock has a market capitalization of $3.87 billion, a PE ratio of -42.93 and a beta of 2.38.

Wall Street Analysts Forecast Growth

SG has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Citigroup upgraded Sweetgreen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $49.00 in a report on Friday, January 10th. UBS Group lifted 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. Finally, KeyCorp started coverage on Sweetgreen in a report on Wednesday, December 11th. They set a “sector weight” rating for the company. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.10.

Institutional Investors Weigh In On Sweetgreen

Hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Sweetgreen during the 3rd quarter worth $35,000. KBC Group NV grew its position in Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after buying an additional 704 shares during the period. Quest Partners LLC increased its holdings in Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after buying an additional 1,728 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Sweetgreen during the 3rd quarter valued at approximately $155,000. Finally, Canton Hathaway LLC purchased a new stake in shares of Sweetgreen during the 3rd quarter worth approximately $177,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.