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

Sweetgreen, Inc. (NYSE:SGGet Free Report) CFO Mitch Reback sold 8,837 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $31.98, for a total transaction of $282,607.26. Following the completion of the transaction, the chief financial officer now owns 388,337 shares in the company, valued at approximately $12,419,017.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 %

SG stock traded down $0.92 during midday trading on Thursday, reaching $30.94. 1,883,054 shares of the company’s stock traded hands, compared to its average volume of 2,549,682. Sweetgreen, Inc. has a 52-week low of $8.64 and a 52-week high of $34.45. The stock has a market cap of $3.51 billion, a P/E ratio of -33.26 and a beta of 2.22. The stock’s 50-day moving average is $24.94 and its 200 day moving average is $16.24.

Sweetgreen (NYSE:SGGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $157.85 million during the quarter, compared to analysts’ expectations of $152.02 million. Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period last year, the company earned ($0.29) earnings per share. As a group, research analysts expect that Sweetgreen, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently modified their holdings of SG. Bank of New York Mellon Corp increased its stake in shares of Sweetgreen by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 343,549 shares of the company’s stock worth $4,037,000 after purchasing an additional 19,538 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Sweetgreen by 31.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,505 shares of the company’s stock worth $570,000 after acquiring an additional 11,500 shares during the last quarter. Forum Financial Management LP boosted 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 acquiring an additional 1,262 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Sweetgreen during the third quarter worth $4,839,000. Finally, Versor Investments LP boosted its position in shares of Sweetgreen by 138.5% during the third quarter. Versor Investments LP now owns 55,801 shares of the company’s stock worth $656,000 after acquiring an additional 32,401 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SG has been the subject of several research reports. Citigroup boosted their price objective on shares of Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Sweetgreen from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, May 10th. TD Cowen boosted their price objective on shares of Sweetgreen from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, May 10th. Morgan Stanley upped their target price on shares of Sweetgreen from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada upped their target price on shares of Sweetgreen from $20.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, May 10th. One 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. According to MarketBeat, Sweetgreen has an average rating of “Moderate Buy” and an average price target of $25.75.

Read Our Latest Research Report on Sweetgreen

About Sweetgreen

(Get Free Report)

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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