Mitch Reback Sells 8,000 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,000 shares of Sweetgreen stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the transaction, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 9th, Mitch Reback sold 72,000 shares of Sweetgreen stock. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00.
• 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 value of $323,713.35.

Sweetgreen Trading Up 0.8 %

Shares of SG stock opened at $33.49 on Friday. Sweetgreen, Inc. has a 12-month low of $10.07 and a 12-month high of $45.12. The business’s 50 day moving average is $36.04 and its two-hundred day moving average is $33.78. The company has a market capitalization of $3.87 billion, a P/E ratio of -42.93 and a beta of 2.38.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. GLOBALT Investments LLC GA purchased a new stake in Sweetgreen in the 3rd quarter worth $591,000. Oliver Luxxe Assets LLC acquired a new stake in shares of Sweetgreen in the third quarter valued at about $1,973,000. Verition Fund Management LLC increased its stake in shares of Sweetgreen by 189.6% during the third quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after purchasing an additional 113,586 shares in the last quarter. Davidson Kempner Capital Management LP raised its position in shares of Sweetgreen by 40.1% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after purchasing an additional 164,600 shares during the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in Sweetgreen in the 3rd quarter valued at about $3,329,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on SG. KeyCorp started coverage on Sweetgreen in a research report on Wednesday, December 11th. They issued a “sector weight” rating on the stock. Oppenheimer cut their price target on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. UBS Group raised their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $49.00 in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.10.

About Sweetgreen

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.