SendGrid (SEND) Major Shareholder Group Select Fund L.P Foundry Sells 2,952,718 Shares

SendGrid (NYSE:SEND) major shareholder Group Select Fund L.P Foundry sold 2,952,718 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

NYSE:SEND opened at $26.35 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.71 and a current ratio of 8.71. SendGrid has a fifty-two week low of $17.50 and a fifty-two week high of $32.03. The firm has a market cap of $1,115.36 and a PE ratio of -138.68.

How to Become a New Pot Stock Millionaire

SendGrid (NYSE:SEND) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $31.73 million for the quarter, compared to analyst estimates of $29.45 million. equities research analysts expect that SendGrid will post -0.13 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. American International Group Inc. purchased a new stake in shares of SendGrid in the 4th quarter worth about $134,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SendGrid in the 4th quarter worth about $153,000. Virtu Financial LLC purchased a new stake in shares of SendGrid in the 4th quarter worth about $297,000. TIAA CREF Investment Management LLC purchased a new stake in shares of SendGrid in the 4th quarter worth about $313,000. Finally, California State Teachers Retirement System purchased a new stake in shares of SendGrid in the 4th quarter worth about $313,000. 41.22% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of SendGrid from a “buy” rating to a “hold” rating in a research note on Saturday, March 17th. Morgan Stanley upped their price target on shares of SendGrid from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. KeyCorp reaffirmed an “overweight” rating and set a $32.00 price target (up from $26.00) on shares of SendGrid in a research note on Monday, February 26th. Finally, Stifel Nicolaus upped their price target on shares of SendGrid from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $29.60.

TRADEMARK VIOLATION WARNING: “SendGrid (SEND) Major Shareholder Group Select Fund L.P Foundry Sells 2,952,718 Shares” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/12/sendgrid-send-major-shareholder-group-select-fund-l-p-foundry-sells-2952718-shares.html.

SendGrid Company Profile

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.

Receive News & Ratings for SendGrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SendGrid and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply