Sweetgreen, Inc. (NYSE:SG) CFO Sells $323,713.35 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 9,507 shares of Sweetgreen stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $323,713.35. Following the completion of the transaction, the chief financial officer now owns 360,177 shares of the company’s stock, valued at approximately $12,264,026.85. This represents a 2.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Sweetgreen Stock Up 12.0 %

NYSE SG opened at $37.89 on Wednesday. Sweetgreen, Inc. has a 52-week low of $9.21 and a 52-week high of $42.77. The business’s 50-day moving average price is $36.50 and its 200 day moving average price is $32.13. The firm has a market cap of $4.38 billion, a P/E ratio of -48.58 and a beta of 2.32.

Wall Street Analysts Forecast Growth

SG has been the topic of several research analyst reports. TD Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. Oppenheimer lifted their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America lifted their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, UBS Group lifted their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Institutional Investors Weigh In On Sweetgreen

Institutional investors have recently made changes to their positions in the stock. Driehaus Capital Management LLC raised its stake in shares of Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after buying an additional 1,878,216 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of Sweetgreen during the 1st quarter worth $29,105,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Sweetgreen during the 2nd quarter worth $33,449,000. Renaissance Technologies LLC acquired a new position in shares of Sweetgreen during the 2nd quarter worth $29,109,000. Finally, Baillie Gifford & Co. raised its stake in shares of Sweetgreen by 6.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares during the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.