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

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 9,507 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.05, for a total value of $323,713.35. Following the sale, the chief financial officer now directly owns 360,177 shares in the company, valued at $12,264,026.85. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sweetgreen Price Performance

Sweetgreen stock opened at $37.89 on Wednesday. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -48.58 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 fifty day moving average price of $36.50 and a 200-day moving average price of $32.13.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SG. Oppenheimer boosted their price objective on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Monday. Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Morgan Stanley upped their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Bank of America increased their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in Sweetgreen by 6.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after acquiring an additional 721,740 shares during the last quarter. Vanguard Group Inc. raised its stake in Sweetgreen by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after acquiring an additional 70,395 shares during the last quarter. Wellington Management Group LLP raised its stake in Sweetgreen by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,407,163 shares of the company’s stock worth $120,784,000 after acquiring an additional 236,874 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after buying an additional 1,878,216 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Sweetgreen by 3.2% during the 3rd quarter. State Street Corp now owns 2,263,025 shares of the company’s stock valued at $80,224,000 after buying an additional 69,120 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.