Sweetgreen, Inc. (NYSE:SG) CFO Sells $263,653.50 in Stock

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,410 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $31.35, for a total value of $263,653.50. Following the transaction, the chief financial officer now directly owns 397,174 shares in the company, valued at $12,451,404.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, March 12th, Mitch Reback sold 29,475 shares of Sweetgreen stock. The stock was 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 shares were sold at an average price of $12.01, for a total value of $125,432.44.

Sweetgreen Stock Performance

Shares of SG stock opened at $31.84 on Thursday. The business has a 50 day moving average of $24.75 and a two-hundred day moving average of $16.14. Sweetgreen, Inc. has a 52 week low of $8.64 and a 52 week high of $34.45.

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

Analyst Upgrades and Downgrades

SG has been the subject of a number of analyst reports. TD Cowen increased their price target on Sweetgreen from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on shares of Sweetgreen from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. William Blair restated an “outperform” rating on shares of Sweetgreen in a research note on Wednesday, May 15th. Piper Sandler lifted their price target on Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada upped their price objective on Sweetgreen from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One equities 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.75.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors have recently modified their holdings of SG. FMR LLC increased its stake in shares of Sweetgreen by 0.6% in 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 during the period. Baillie Gifford & Co. increased its position in Sweetgreen by 31.9% in the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after acquiring an additional 2,907,749 shares during the period. Vanguard Group Inc. raised its stake in Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after acquiring an additional 70,395 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sweetgreen by 38.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock worth $19,549,000 after acquiring an additional 476,998 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Sweetgreen by 1,435.2% in the third quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock worth $19,679,000 after purchasing an additional 1,565,700 shares in the last quarter. 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.