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Nathaniel Ru, a director at Sweetgreen , Inc. (NYSE:SG), has sold 7,400 shares of Class A common stock, according to a recent SEC filing. The stock has shown significant volatility recently, with a notable 8% gain in the past week despite a challenging six-month period that saw a decline of nearly 27%. The shares were sold on March 10 for a weighted average price of $25.05, totaling approximately $185,370. This transaction was conducted under a 10b5-1 plan dated June 10, 2024. Following the sale, Ru holds no shares directly under this specific transaction, but maintains ownership of other shares through various trusts. According to InvestingPro analysis, Sweetgreen maintains a healthy liquidity position with a current ratio of 2.02, though the company is currently trading above its Fair Value. InvestingPro subscribers have access to 11 additional exclusive insights about Sweetgreen, including detailed valuation metrics and growth prospects.
In other recent news, Sweetgreen Inc. reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of -$0.25, against a forecast of -$0.20, and revenue of $160.9 million, slightly below the expected $163.4 million. Despite this, Sweetgreen achieved a full-year sales growth of 15% to $676.8 million and reported its first full year of positive adjusted EBITDA at $18.7 million. In light of these results, several analyst firms have revised their price targets for Sweetgreen. UBS lowered its target to $35, TD Cowen adjusted it to $33, and RBC Capital Markets reduced it to $30, all while maintaining positive ratings on the stock.
Analysts cited factors such as weather conditions and California wildfires as contributing to the company’s underperformance in the first quarter. Despite these challenges, Sweetgreen’s management remains optimistic, reaffirming its unit growth forecast and highlighting strong performance in its Infinite Kitchen operations. The company plans to open at least 40 new locations in 2025, half of which will feature the Infinite Kitchen concept. Sweetgreen is also enhancing its menu offerings and launching a new loyalty program, SG Rewards, in April to boost sales. These strategic initiatives are aimed at overcoming near-term challenges and supporting long-term growth.
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