Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 8,837 Shares

Sweetgreen, Inc. (NYSE:SG - Get Free Report) CFO Mitch Reback sold 8,837 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $31.98, for a total transaction of $282,607.26. Following the transaction, the chief financial officer now directly owns 388,337 shares in the company, valued at approximately $12,419,017.26. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Thursday, May 16th, Mitch Reback sold 8,410 shares of Sweetgreen stock. The shares were sold at an average price of $31.35, for a total transaction of $263,653.50.
• 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 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 transaction of $125,432.44.

Sweetgreen Trading Down 2.9 %

Shares of SG stock traded down $0.92 during trading hours on Thursday, hitting $30.94. 1,883,054 shares of the company were exchanged, compared to its average volume of 2,549,682. The firm has a fifty day simple moving average of $24.94 and a 200 day simple moving average of $16.24. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $34.45. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -33.26 and a beta of 2.22.

Sweetgreen (NYSE:SG - Get Free Report) last issued 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). Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The company had revenue of $157.85 million for the quarter, compared to analysts' expectations of $152.02 million. During the same quarter in the previous year, the business earned ($0.29) EPS. The company's revenue for the quarter was up 26.2% on a year-over-year basis. Sell-side analysts anticipate that Sweetgreen, Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SG. 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 report on Friday, May 10th. Piper Sandler raised their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised their price target on shares of Sweetgreen from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, May 10th. Royal Bank of Canada increased their price objective on shares of Sweetgreen from $20.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday, May 10th. Finally, Oppenheimer increased their price objective on shares of Sweetgreen from $17.00 to $34.00 and gave the company an "outperform" rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of "Moderate Buy" and an average target price of $25.75.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently modified their holdings of the stock. Perigon Wealth Management LLC bought a new position in Sweetgreen in the 1st quarter worth approximately $223,000. Quest Partners LLC bought a new position in Sweetgreen in the 4th quarter worth approximately $104,000. Clear Harbor Asset Management LLC bought a new position in Sweetgreen in the 4th quarter worth approximately $113,000. Entropy Technologies LP bought a new position in Sweetgreen in the 1st quarter worth approximately $279,000. Finally, Triumph Capital Management bought a new position in Sweetgreen in the 4th quarter worth approximately $126,000. 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.

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