Csenge Advisory Group Buys Shares of 13,295 Sweetgreen, Inc. (NYSE:SG)

Csenge Advisory Group purchased a new position in Sweetgreen, Inc. (NYSE:SG) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 13,295 shares of the company’s stock, valued at approximately $426,000.

A number of other large investors have also recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in Sweetgreen during the 3rd quarter worth about $35,000. Wilmington Savings Fund Society FSB purchased a new position in Sweetgreen during the 4th quarter valued at about $62,000. KBC Group NV increased its position in shares of Sweetgreen by 29.1% during the third quarter. KBC Group NV now owns 3,127 shares of the company’s stock valued at $111,000 after buying an additional 704 shares during the period. Sachetta LLC lifted its holdings in shares of Sweetgreen by 37.6% in the fourth quarter. Sachetta LLC now owns 4,324 shares of the company’s stock worth $139,000 after buying an additional 1,182 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock worth $151,000 after buying an additional 1,728 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SG has been the subject of several recent analyst reports. Oppenheimer reduced their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group restated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. UBS Group increased their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. KeyCorp began coverage on Sweetgreen in a research report on Wednesday, December 11th. They set a “sector weight” rating for the company. Finally, Morgan Stanley decreased their target price on Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Insiders Place Their Bets

In other Sweetgreen news, Director Julie Bornstein sold 4,464 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.11, for a total transaction of $187,979.04. Following the completion of the sale, the director now directly owns 32,637 shares in the company, valued at $1,374,344.07. This represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicolas Jammet sold 14,551 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $654,795.00. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at $86,860,485. This trade represents a 0.75 % 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 quarter. 21.52% of the stock is owned by corporate insiders.

Sweetgreen Trading Down 9.3 %

Shares of Sweetgreen stock opened at $24.67 on Wednesday. The firm has a market capitalization of $2.85 billion, a PE ratio of -31.62 and a beta of 2.37. Sweetgreen, Inc. has a 12 month low of $10.93 and a 12 month high of $45.12. The business’s 50-day moving average price is $32.04 and its 200-day moving average price is $34.49.

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.