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

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 on Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the sale, the chief financial officer directly owned 322,891 shares in the company, valued at approximately $2,967,368.29. This represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Sweetgreen Price Performance

Shares of SG stock traded up $0.1450 on Tuesday, hitting $9.4250. 4,737,886 shares of the company's stock were exchanged, compared to its average volume of 4,853,868. The company has a 50 day moving average of $12.89 and a 200 day moving average of $18.17. The stock has a market cap of $1.11 billion, a P/E ratio of -11.22 and a beta of 2.04. Sweetgreen, Inc. has a 12 month low of $8.80 and a 12 month high of $45.12.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Glass Jacobson Investment Advisors llc acquired a new stake in shares of Sweetgreen in the second quarter valued at about $30,000. Nisa Investment Advisors LLC increased its position in Sweetgreen by 98.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company's stock valued at $32,000 after purchasing an additional 1,055 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Sweetgreen by 312.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company's stock valued at $42,000 after purchasing an additional 2,127 shares during the period. Tower Research Capital LLC TRC raised its holdings in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after purchasing an additional 494 shares during the last quarter. Finally, Spire Wealth Management lifted its position in shares of Sweetgreen by 47.1% in the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after purchasing an additional 635 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. TD Securities restated a "hold" rating and issued a $15.00 target price (down previously from $25.00) on shares of Sweetgreen in a research report on Tuesday, July 1st. Wells Fargo & Company reissued an "overweight" rating and set a $19.00 price objective on shares of Sweetgreen in a report on Tuesday, July 1st. Piper Sandler reduced their price objective on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Barclays lowered their target price on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Finally, Royal Bank Of Canada cut their price target on Sweetgreen from $25.00 to $13.00 and set an "outperform" rating on the stock in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.69.

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.

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