Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 8,837 Shares of Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,837 shares of Sweetgreen stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $31.98, for a total value of $282,607.26. Following the completion of the sale, the chief financial officer now directly owns 388,337 shares of the company’s stock, valued at approximately $12,419,017.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, May 16th, Mitch Reback sold 8,410 shares of Sweetgreen stock. The stock was sold at an average price of $31.35, for a total value of $263,653.50.
• On Tuesday, March 12th, Mitch Reback sold 29,475 shares of Sweetgreen stock. The shares were sold at an average price of $21.01, for a total transaction of $619,269.75.
• On Tuesday, February 27th, Mitch Reback sold 10,444 shares of Sweetgreen stock. The stock was sold at an average price of $12.01, for a total transaction of $125,432.44.

Sweetgreen Stock Performance

Shares of SG opened at $31.09 on Friday. Sweetgreen, Inc. has a 12 month low of $8.64 and a 12 month high of $34.45. The stock’s 50-day moving average is $24.94 and its two-hundred day moving average is $16.24.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company had revenue of $157.85 million for the quarter, compared to analysts’ expectations of $152.02 million. Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.29) earnings per share. As a group, equities analysts forecast that Sweetgreen, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SG. Piper Sandler increased their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. TD Cowen increased their target price on Sweetgreen from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Citigroup lifted their target price on Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, May 10th. JPMorgan Chase & Co. upped their price target on Sweetgreen from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SG. Quest Partners LLC purchased a new stake in Sweetgreen during the 4th quarter worth approximately $104,000. Clear Harbor Asset Management LLC bought a new stake in shares of Sweetgreen in the fourth quarter worth $113,000. Triumph Capital Management acquired a new stake in Sweetgreen in the fourth quarter valued at $126,000. Forum Financial Management LP boosted its stake in Sweetgreen by 12.6% during the 3rd quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock valued at $132,000 after acquiring an additional 1,262 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in Sweetgreen during the 4th quarter worth $137,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.