Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 5,525 Shares

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 5,525 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $10.09, for a total transaction of $55,747.25. Following the completion of the transaction, the chief financial officer now owns 442,681 shares of the company’s stock, valued at $4,466,651.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, August 25th, Mitch Reback sold 14,324 shares of Sweetgreen stock. The shares were sold at an average price of $13.90, for a total transaction of $199,103.60.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $9.90 on Tuesday. Sweetgreen, Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $16.58. The company has a 50 day simple moving average of $10.95 and a two-hundred day simple moving average of $11.98. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -8.25 and a beta of 2.05.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Sweetgreen by 0.6% during the third quarter. FMR LLC now owns 14,810,112 shares of the company’s stock valued at $174,019,000 after purchasing an additional 84,375 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Sweetgreen by 31.9% during the third quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after purchasing an additional 2,907,749 shares in the last quarter. BlackRock Inc. increased its stake in shares of Sweetgreen by 13.2% during the second quarter. BlackRock Inc. now owns 6,217,233 shares of the company’s stock valued at $79,705,000 after purchasing an additional 723,876 shares in the last quarter. State Street Corp increased its stake in shares of Sweetgreen by 10.9% during the second quarter. State Street Corp now owns 1,738,795 shares of the company’s stock valued at $22,291,000 after purchasing an additional 171,213 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Sweetgreen by 13.1% during the second quarter. Geode Capital Management LLC now owns 1,674,872 shares of the company’s stock valued at $21,472,000 after buying an additional 193,996 shares during the last quarter. Institutional investors own 79.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley restated an “equal weight” rating and set a $14.00 price target on shares of Sweetgreen in a research report on Monday, July 31st. Citigroup cut their price target on shares of Sweetgreen from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of Sweetgreen in a research report on Friday, September 15th. Piper Sandler lowered their price objective on shares of Sweetgreen from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sweetgreen from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, November 8th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Sweetgreen has a consensus rating of “Hold” and a consensus target price of $14.11.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.