SendGrid (SEND) Trading 7.2% Higher
SendGrid Inc (NYSE:SEND) traded up 7.2% during trading on Thursday . The company traded as high as $46.52 and last traded at $46.39. 1,107,476 shares were traded during trading, an increase of 55% from the average session volume of 713,638 shares. The stock had previously closed at $43.27.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of SendGrid from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. First Analysis assumed coverage on shares of SendGrid in a report on Monday, September 24th. They set a “strong-buy” rating and a $45.00 price target for the company. Stifel Nicolaus upped their price target on shares of SendGrid from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 13th. Finally, KeyCorp upped their price target on shares of SendGrid from $32.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, September 4th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. SendGrid presently has a consensus rating of “Buy” and a consensus price target of $36.00.
The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.17 and a current ratio of 8.17.
In other SendGrid news, insider Sameer Dholakia sold 16,666 shares of the company’s stock in a transaction on Monday, October 8th. The shares were sold at an average price of $32.02, for a total value of $533,645.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Yancey L. Spruill sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $41.41, for a total transaction of $2,070,500.00. The disclosure for this sale can be found here. Insiders sold a total of 159,114 shares of company stock valued at $5,871,893 over the last 90 days. Company insiders own 30.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SEND. NumerixS Investment Technologies Inc bought a new position in SendGrid in the 2nd quarter worth $174,000. Legal & General Group Plc grew its position in shares of SendGrid by 224.6% in the 3rd quarter. Legal & General Group Plc now owns 4,833 shares of the company’s stock worth $178,000 after buying an additional 3,344 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of SendGrid in the 2nd quarter worth about $209,000. Atria Investments LLC purchased a new stake in shares of SendGrid in the 3rd quarter worth about $231,000. Finally, Verition Fund Management LLC purchased a new stake in shares of SendGrid in the 3rd quarter worth about $278,000. Institutional investors and hedge funds own 84.45% of the company’s stock.
About SendGrid (NYSE:SEND)
SendGrid, Inc operates as a digital communication platform in the United States and internationally. Its cloud-based platform provides various tools to the businesses, including developers and marketers to reach their customers using an email. The company offers services, such as email application programming interface (API), which allow developers to use its API in their preferred development framework and to use its platform to add email functionality to their applications; marketing campaigns that allow marketers to upload and manage customer contact lists, create and test email templates, and execute and analyze email campaigns to engage customers; and expert services to help businesses optimize their email delivery.
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