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

Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback sold 8,410 shares of Sweetgreen stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.35, for a total value of $263,653.50. Following the completion of the transaction, the chief financial officer now owns 397,174 shares of the company’s stock, valued at approximately $12,451,404.90. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $21.01, for a total value 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 Trading Down 0.3 %

Shares of Sweetgreen stock opened at $31.84 on Thursday. The business’s 50 day moving average price is $24.75 and its 200 day moving average price is $16.14. Sweetgreen, Inc. has a one year low of $8.64 and a one year high of $34.45.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share 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 analyst estimates of $152.02 million. Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.29) EPS. Analysts forecast that Sweetgreen, Inc. will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors have recently modified their holdings of SG. Bank of New York Mellon Corp boosted its holdings in Sweetgreen by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 343,549 shares of the company’s stock valued at $4,037,000 after purchasing an additional 19,538 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sweetgreen by 31.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,505 shares of the company’s stock valued at $570,000 after buying an additional 11,500 shares during the period. Forum Financial Management LP grew its position in shares of Sweetgreen by 12.6% during the third quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after buying an additional 1,262 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Sweetgreen during the third quarter worth approximately $4,839,000. Finally, Versor Investments LP raised its holdings in Sweetgreen by 138.5% in the third quarter. Versor Investments LP now owns 55,801 shares of the company’s stock valued at $656,000 after acquiring an additional 32,401 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SG. Oppenheimer upped their price objective on shares of Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Citigroup raised their price target on shares of Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Morgan Stanley boosted their price objective on Sweetgreen from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Royal Bank of Canada raised their target price on Sweetgreen from $20.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. boosted their price target on Sweetgreen from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Sweetgreen has a consensus rating of “Moderate Buy” and an average price target of $25.75.

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.