MetLife Investment Advisors LLC bought a new stake in shares of SendGrid Inc (NYSE:SEND) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,249 shares of the company’s stock, valued at approximately $120,000.
Other large investors have also made changes to their positions in the company. Citigroup Inc. boosted its position in shares of SendGrid by 387.2% during the first quarter. Citigroup Inc. now owns 4,550 shares of the company’s stock valued at $128,000 after buying an additional 3,616 shares during the period. American International Group Inc. purchased a new stake in shares of SendGrid in the fourth quarter valued at approximately $134,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SendGrid in the fourth quarter valued at approximately $153,000. Rhumbline Advisers purchased a new stake in shares of SendGrid in the first quarter valued at approximately $205,000. Finally, Virtu Financial LLC purchased a new stake in shares of SendGrid in the fourth quarter valued at approximately $297,000. Institutional investors and hedge funds own 40.36% of the company’s stock.
A number of analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on SendGrid from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. Morgan Stanley boosted their price target on SendGrid from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered SendGrid from a “buy” rating to a “hold” rating in a report on Saturday, March 17th. Canaccord Genuity assumed coverage on SendGrid in a report on Wednesday, April 25th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $32.00 price target on shares of SendGrid in a report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $31.67.
In related news, insider Sameer Dholakia sold 368,231 shares of the business’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $22.86, for a total value of $8,417,760.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Group Select Fund L.P Foundry sold 2,952,718 shares of the business’s stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $22.86, for a total transaction of $67,499,133.48. The disclosure for this sale can be found here. Insiders sold 3,355,949 shares of company stock valued at $76,716,994 in the last three months. 30.20% of the stock is currently owned by insiders.
Shares of SendGrid opened at $26.52 on Friday, according to Marketbeat. The company has a quick ratio of 10.16, a current ratio of 10.16 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.16 billion and a P/E ratio of -139.58. SendGrid Inc has a 52-week low of $17.50 and a 52-week high of $32.03.
SendGrid (NYSE:SEND) last announced its quarterly earnings results on Tuesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $32.57 million during the quarter, compared to analysts’ expectations of $32.05 million. analysts anticipate that SendGrid Inc will post -0.1 EPS for the current year.
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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