Mitch Reback Sells 9,497 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 9,497 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $33.40, for a total value of $317,199.80. Following the completion of the sale, the chief financial officer now directly owns 369,684 shares of the company’s stock, valued at $12,347,445.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, August 16th, Mitch Reback sold 9,156 shares of Sweetgreen stock. The shares were sold at an average price of $36.61, for a total value of $335,201.16.
• 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

NYSE:SG traded down $1.67 during trading hours on Tuesday, hitting $33.15. The company’s stock had a trading volume of 3,971,122 shares, compared to its average volume of 2,757,519. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $37.88. The business’s 50-day moving average is $28.63 and its two-hundred day moving average is $24.71. The company has a market capitalization of $3.76 billion, a PE ratio of -35.65 and a beta of 2.30.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SG. Bank of America increased their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler reissued a “neutral” rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a report on Monday. William Blair restated an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. TD Cowen increased their price objective on Sweetgreen from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, June 13th. Finally, UBS Group boosted their target price on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB acquired a new stake in Sweetgreen in the 4th quarter worth about $137,000. Mach 1 Financial Group LLC acquired a new stake in shares of Sweetgreen in the fourth quarter worth approximately $520,000. Triumph Capital Management purchased a new stake in Sweetgreen in the fourth quarter valued at approximately $126,000. Charles Schwab Investment Management Inc. increased its position in Sweetgreen by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock worth $8,264,000 after purchasing an additional 15,463 shares during the last quarter. Finally, Summit Place Financial Advisors LLC raised its stake in Sweetgreen by 25.6% during the fourth quarter. Summit Place Financial Advisors LLC now owns 65,090 shares of the company’s stock worth $736,000 after purchasing an additional 13,260 shares during the period. Hedge funds and other institutional investors 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.