Sweetgreen (NYSE:SG) CFO Mitch Reback Sells 11,530 Shares

Key Points

• Mitch Reback, CFO of Sweetgreen, sold 11,530 shares at an average price of $9.19, totaling approximately $105,960, reducing his ownership stake by 3.45%.
• Sweetgreen's stock recently traded at $9.4250, showing significant fluctuations with a 12-month high of $45.12 and a low of $8.80.
• The company's recent financial results reported an EPS of ($0.20), missing estimates, with revenue of $185.58 million for the quarter compared to expectations of $193.47 million.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) CFO Mitch Reback sold 11,530 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the sale, the chief financial officer owned 322,891 shares of the company's stock, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Sweetgreen Stock Up 3.6%

Shares of Sweetgreen stock traded up $0.3270 on Friday, hitting $9.3070. 6,061,974 shares of the company traded hands, compared to its average volume of 7,450,750. Sweetgreen, Inc. has a 12-month low of $8.45 and a 12-month high of $45.12. The company has a market cap of $1.10 billion, a PE ratio of -11.08 and a beta of 2.04. The company has a 50-day moving average price of $12.58 and a 200 day moving average price of $17.61.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The firm had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. During the same period in the previous year, the business posted ($0.13) EPS. Sweetgreen's revenue for the quarter was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on SG. JPMorgan Chase & Co. dropped their price objective on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Oppenheimer decreased their target price on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. TD Securities restated a "hold" rating and set a $15.00 price target (down previously from $25.00) on shares of Sweetgreen in a report on Tuesday, July 1st. TD Cowen reduced their price objective on shares of Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a research note on Friday, August 8th. Finally, UBS Group lowered their target price on shares of Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $17.69.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors have recently made changes to their positions in SG. Greenhouse Funds LLLP acquired a new position in shares of Sweetgreen during the second quarter worth approximately $32,122,000. Wellington Management Group LLP lifted its position in shares of Sweetgreen by 30.0% in the 1st quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock worth $144,180,000 after acquiring an additional 1,330,094 shares during the period. Champlain Investment Partners LLC bought a new stake in shares of Sweetgreen in the 1st quarter worth approximately $31,558,000. Stephens Investment Management Group LLC grew its holdings in shares of Sweetgreen by 89.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company's stock worth $38,205,000 after purchasing an additional 1,212,708 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Sweetgreen by 891.1% during the second quarter. Blair William & Co. IL now owns 1,157,405 shares of the company's stock valued at $17,222,000 after purchasing an additional 1,040,629 shares during the period. 95.75% of the stock is currently owned by institutional investors.

About Sweetgreen

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.