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

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $33.13, for a total value of $265,040.00. Following the sale, the chief financial officer now owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 transaction of $323,713.35.

Sweetgreen Price Performance

NYSE SG 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 stock’s 50 day moving average is $36.04 and its 200 day moving average is $33.74.

Hedge Funds Weigh In On Sweetgreen

Hedge funds have recently modified their holdings of the stock. Essex Investment Management Co. LLC lifted 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 worth $3,993,000 after buying an additional 314 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its holdings in shares of Sweetgreen by 0.7% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after acquiring an additional 474 shares in the last quarter. Cypress Wealth Services LLC raised its holdings in shares of Sweetgreen by 6.1% during the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after acquiring an additional 483 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings 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 purchasing an additional 537 shares in the last quarter. Finally, KBC Group NV increased its position in Sweetgreen by 29.1% in the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after purchasing an additional 704 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SG. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $49.00 in a report on Friday, January 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a report on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $45.00 price target on shares of Sweetgreen in a report on Monday, November 18th. UBS Group raised their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, KeyCorp began coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.10.

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.