SendGrid Inc (NYSE:SEND) insider Carrie Palin sold 2,494 shares of the firm’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $40.89, for a total value of $101,979.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of NYSE:SEND opened at $46.58 on Friday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -245.16 and a beta of 0.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.17 and a current ratio of 8.17. SendGrid Inc has a 52-week low of $20.42 and a 52-week high of $48.86.
SendGrid (NYSE:SEND) last announced its quarterly earnings results on Tuesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $37.20 million for the quarter, compared to analyst estimates of $36.04 million. SendGrid had a negative return on equity of 0.86% and a negative net margin of 4.03%. Equities research analysts anticipate that SendGrid Inc will post -0.04 earnings per share for the current year.
SEND has been the topic of several recent research reports. Stifel Nicolaus increased their price target on SendGrid from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 13th. First Analysis initiated coverage on SendGrid in a report on Monday, September 24th. They issued a “strong-buy” rating and a $45.00 price target on the stock. Finally, Zacks Investment Research upgraded SendGrid from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $36.00.
Institutional investors and hedge funds have recently modified their holdings of the stock. Blair William & Co. IL increased its position in SendGrid by 11.9% in the third quarter. Blair William & Co. IL now owns 16,875 shares of the company’s stock worth $621,000 after buying an additional 1,800 shares during the last quarter. Legal & General Group Plc increased its position in SendGrid by 224.6% in the third 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 last quarter. Atria Investments LLC purchased a new position in shares of SendGrid in the third quarter valued at $231,000. NumerixS Investment Technologies Inc purchased a new position in shares of SendGrid in the second quarter valued at $174,000. Finally, Verition Fund Management LLC purchased a new position in shares of SendGrid in the third quarter valued at $278,000. 83.92% of the stock is owned by institutional investors.
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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