Sweetgreen, Inc. (NYSE:SG) CFO Mitch Reback Sells 5,504 Shares of Stock

Posted by Defense World Staff on Sep 12th, 2023

Sweetgreen, Inc. (NYSE:SG – Get Free Report) CFO Mitch Reback sold 5,504 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $13.39, for a total value of $73,698.56. Following the completion of the sale, the chief financial officer now owns 457,026 shares of the company’s stock, valued at approximately $6,119,578.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

On Friday, August 25th, Mitch Reback sold 14,324 shares of Sweetgreen stock. The shares were sold at an average price of $13.90, for a total value of $199,103.60.

Sweetgreen Stock Up 1.5 %

NYSE:SG opened at $13.93 on Tuesday. The business’s 50 day moving average is $14.46 and its two-hundred day moving average is $10.77. Sweetgreen, Inc. has a 52 week low of $6.10 and a 52 week high of $20.75. The company has a market cap of $1.56 billion, a PE ratio of -9.88 and a beta of 1.99.

Sweetgreen (NYSE:SG – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Sweetgreen had a negative return on equity of 26.30% and a negative net margin of 30.29%. The firm had revenue of $152.53 million for the quarter, compared to the consensus estimate of $155.99 million. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SG. TD Cowen reduced their price target on Sweetgreen from $16.00 to $14.00 and set a “market perform” rating for the company in a report on Friday, July 28th. Bank of America raised Sweetgreen from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $17.00 in a report on Thursday, July 6th. Piper Sandler raised Sweetgreen from a “neutral” rating to an “overweight” rating and increased their price target for the company from $13.00 to $19.00 in a report on Monday, July 31st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $14.00 price target on shares of Sweetgreen in a report on Monday, July 31st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.50.

Get Our Latest Analysis on Sweetgreen

Institutional Trading of Sweetgreen

Several hedge funds have recently made changes to their positions in the stock. Comerica Bank bought a new stake in shares of Sweetgreen in the 2nd quarter worth approximately $59,000. Asset Dedication LLC bought a new stake in shares of Sweetgreen in the 2nd quarter worth approximately $58,000. California State Teachers Retirement System lifted its holdings in shares of Sweetgreen by 50.5% in the 2nd quarter. California State Teachers Retirement System now owns 114,011 shares of the company’s stock worth $1,462,000 after purchasing an additional 38,272 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Sweetgreen by 291.9% in the 2nd quarter. Osaic Holdings Inc. now owns 27,471 shares of the company’s stock worth $352,000 after purchasing an additional 20,462 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Sweetgreen by 2.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 250,138 shares of the company’s stock worth $3,207,000 after purchasing an additional 5,645 shares during the last quarter. Institutional investors own 79.21% of the company’s stock.

About Sweetgreen

(Get Free Report)

Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.