Csenge Advisory Group Makes New $426,000 Investment in Sweetgreen, Inc. (NYSE:SG)

Csenge Advisory Group acquired a new position in shares of Sweetgreen, Inc. (NYSE:SG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,295 shares of the company’s stock, valued at approximately $426,000.

Several other hedge funds also recently modified their holdings of SG. Rhumbline Advisers boosted its stake in Sweetgreen by 2.6% during the fourth quarter. Rhumbline Advisers now owns 138,002 shares of the company’s stock worth $4,424,000 after acquiring an additional 3,562 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Sweetgreen during the fourth quarter valued at about $214,000. Fishman Jay A Ltd. MI boosted its position in shares of Sweetgreen by 7.7% during the 4th quarter. Fishman Jay A Ltd. MI now owns 12,525 shares of the company’s stock worth $402,000 after purchasing an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Sweetgreen during the 4th quarter worth about $62,000. Finally, Calamos Advisors LLC grew its stake in shares of Sweetgreen by 16.5% in the 4th quarter. Calamos Advisors LLC now owns 79,815 shares of the company’s stock valued at $2,559,000 after buying an additional 11,275 shares during the period. Institutional investors own 95.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SG. KeyCorp initiated coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a “sector weight” rating on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $40.00 target price on shares of Sweetgreen in a research report on Friday, November 8th. TD Cowen reissued a “buy” rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group raised their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Sweetgreen presently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Sweetgreen Stock Performance

NYSE:SG opened at $24.67 on Wednesday. Sweetgreen, Inc. has a 52 week low of $10.93 and a 52 week high of $45.12. The firm has a 50-day moving average price of $32.04 and a two-hundred day moving average price of $34.49. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -31.62 and a beta of 2.37.

Insider Activity

In related news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $663,525.00. Following the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $86,860,260. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julie Bornstein sold 4,464 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total value of $187,979.04. Following the transaction, the director now directly owns 32,637 shares of the company’s stock, valued at approximately $1,374,344.07. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 539,651 shares of company stock valued at $20,895,162 over the last three months. Corporate insiders own 21.52% of the company’s stock.

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.