Mitch Reback Sells 9,507 Shares of Sweetgreen, Inc. (NYSE:SG) Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 9,507 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 360,177 shares of the company’s stock, valued at approximately $12,264,026.85. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sweetgreen Trading Up 12.0 %

NYSE SG traded up $4.06 during trading on Tuesday, reaching $37.89. The company’s stock had a trading volume of 3,069,451 shares, compared to its average volume of 2,880,745. The stock has a market capitalization of $4.38 billion, a PE ratio of -46.64 and a beta of 2.32. Sweetgreen, Inc. has a 1-year low of $9.21 and a 1-year high of $42.77. The business has a 50-day moving average price of $36.35 and a 200-day moving average price of $32.02.

Wall Street Analysts Forecast Growth

SG has been the topic of several research analyst reports. Citigroup lifted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Oppenheimer upped their price target on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Piper Sandler restated a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Finally, UBS Group increased their price target 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the business. 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 during the last quarter. Evolutionary Tree Capital Management LLC boosted its position in Sweetgreen by 0.7% during the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after purchasing an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after buying an additional 537 shares during the last quarter. KBC Group NV lifted its position in Sweetgreen by 29.1% during the 3rd quarter. KBC Group NV now owns 3,127 shares of the company’s stock worth $111,000 after acquiring an additional 704 shares during the last quarter. Finally, Pier Capital LLC lifted its position in Sweetgreen by 0.3% during the 3rd quarter. Pier Capital LLC now owns 293,333 shares of the company’s stock worth $10,399,000 after acquiring an additional 761 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.