Mitch Reback Sells 72,000 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 72,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00. Following the sale, the chief financial officer now directly owns 43,901 shares in the company, valued at $1,658,140.77. The trade was a 62.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, November 18th, Mitch Reback sold 9,507 shares of Sweetgreen stock. The shares were sold at an average price of $34.05, for a total transaction of $323,713.35.

Sweetgreen Stock Up 6.0 %

NYSE SG traded up $2.21 during trading hours on Wednesday, reaching $38.81. 2,096,454 shares of the company were exchanged, compared to its average volume of 2,863,251. The stock has a market capitalization of $4.49 billion, a P/E ratio of -46.92 and a beta of 2.32. Sweetgreen, Inc. has a 1 year low of $9.66 and a 1 year high of $45.12. The business’s 50 day simple moving average is $38.20 and its 200-day simple moving average is $33.29.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SG. Essex Investment Management Co. LLC boosted its position in shares of Sweetgreen by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 112,647 shares of the company’s stock valued at $3,993,000 after acquiring an additional 314 shares during the period. Evolutionary Tree Capital Management LLC boosted its position in shares of Sweetgreen by 0.7% in the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock valued at $1,982,000 after acquiring an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after acquiring an additional 537 shares during the period. KBC Group NV boosted its position in shares of Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after acquiring an additional 704 shares during the period. Finally, Pier Capital LLC boosted its position in shares of Sweetgreen by 0.3% in the third quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock valued at $10,399,000 after acquiring an additional 761 shares during the period. Institutional investors own 95.75% of the company’s stock.

Analyst Ratings Changes

SG has been the subject of several recent research reports. Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. UBS Group increased their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. KeyCorp assumed coverage on shares of Sweetgreen in a report on Wednesday. They set a “sector weight” rating on the stock. Oppenheimer upped their price objective on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, TD Cowen restated a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

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.