Sweetgreen, Inc. (NYSE:SG) CFO Sells $265,040.00 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,000 shares of Sweetgreen 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 completion of the transaction, the chief financial officer now owns 350,981 shares in the company, valued at $11,628,000.53. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing 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 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 value of $323,713.35.

Sweetgreen Stock Performance

Shares of NYSE:SG opened at $33.49 on Monday. The company’s fifty day moving average is $36.04 and its two-hundred day moving average is $33.82. Sweetgreen, Inc. has a 1-year low of $10.07 and a 1-year high of $45.12. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -42.93 and a beta of 2.38.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently bought and sold shares of SG. Janney Montgomery Scott LLC grew its position in shares of Sweetgreen by 27.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 11,693 shares of the company’s stock worth $375,000 after acquiring an additional 2,488 shares during the last quarter. Liberty One Investment Management LLC bought a new stake in shares of Sweetgreen during the fourth quarter valued at about $582,000. Cypress Wealth Services LLC lifted its holdings in Sweetgreen by 6.1% in the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company’s stock worth $270,000 after purchasing an additional 483 shares during the period. Cox Capital Mgt LLC grew its position in Sweetgreen by 76.0% in the 4th quarter. Cox Capital Mgt LLC now owns 53,898 shares of the company’s stock valued at $1,728,000 after buying an additional 23,278 shares in the last quarter. Finally, PSI Advisors LLC increased its stake in Sweetgreen by 64.0% during the 4th quarter. PSI Advisors LLC now owns 11,008 shares of the company’s stock valued at $353,000 after buying an additional 4,295 shares during the period. Institutional investors own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Citigroup raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $49.00 in a research report on Friday, January 10th. TD Cowen reissued a “buy” rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. Finally, Oppenheimer dropped their target price on Sweetgreen from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and an average target price 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.