Csenge Advisory Group Takes $426,000 Position in Sweetgreen, Inc. (NYSE:SG)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in SG. Creative Planning lifted its holdings in shares of Sweetgreen by 61.7% during the 3rd quarter. Creative Planning now owns 11,439 shares of the company's stock valued at $406,000 after purchasing an additional 4,364 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sweetgreen by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company's stock valued at $44,613,000 after purchasing an additional 148,684 shares during the last quarter. Precision Wealth Strategies LLC purchased a new position in Sweetgreen in the 3rd quarter worth $227,000. Brighton Jones LLC purchased a new position in Sweetgreen in the 3rd quarter worth $292,000. Finally, PSI Advisors LLC purchased a new position in Sweetgreen in the 3rd quarter worth $238,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Stock Up 1.5 %

Shares of NYSE:SG traded up $0.36 during trading on Thursday, reaching $23.61. 4,280,306 shares of the company's stock traded hands, compared to its average volume of 2,985,717. Sweetgreen, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $45.12. The firm has a market cap of $2.73 billion, a PE ratio of -30.26 and a beta of 2.37. The company has a 50-day simple moving average of $31.44 and a 200-day simple moving average of $34.33.

Insider Buying and Selling

In related news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.00, for a total value of $663,525.00. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $86,860,260. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicolas Jammet sold 170,199 shares of Sweetgreen stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $37.73, for a total value of $6,421,608.27. Following the completion of the sale, the insider now owns 1,760,034 shares in the company, valued at approximately $66,406,082.82. The trade was a 8.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 550,577 shares of company stock worth $21,183,936. Insiders own 21.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SG shares. TD Cowen reiterated a "buy" rating and set a $45.00 price objective on shares of Sweetgreen in a research note on Monday, November 18th. KeyCorp started coverage on Sweetgreen in a research note on Wednesday, December 11th. They set a "sector weight" rating for the company. Oppenheimer reduced their price objective on Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Citigroup reduced their price objective on Sweetgreen from $49.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $40.00 price objective on shares of Sweetgreen in a research note on Friday, November 8th. 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, Sweetgreen presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

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.