SendGrid Inc (NYSE:SEND) reached a new 52-week high during trading on Wednesday . The company traded as high as $46.72 and last traded at $46.21, with a volume of 372505 shares changing hands. The stock had previously closed at $34.27.
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. Morgan Stanley upped their price target on shares of SendGrid from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. SendGrid currently has an average rating of “Buy” and a consensus target price of $36.00.
The company has a current ratio of 10.83, a quick ratio of 10.83 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.66 billion and a P/E ratio of -244.47.
In other SendGrid news, SVP Yanagawa Leandra Fishman sold 10,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $35.58, for a total value of $355,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen M. Sloan sold 15,000 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $36.66, for a total transaction of $549,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,182 shares of company stock valued at $3,679,957 over the last quarter. 30.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SEND. Northern Trust Corp raised its holdings in SendGrid by 25.5% in the 1st quarter. Northern Trust Corp now owns 90,114 shares of the company’s stock worth $2,536,000 after purchasing an additional 18,300 shares in the last quarter. BlackRock Inc. raised its holdings in SendGrid by 37.9% in the 1st quarter. BlackRock Inc. now owns 961,913 shares of the company’s stock worth $27,069,000 after purchasing an additional 264,265 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in SendGrid by 45.8% in the 1st quarter. JPMorgan Chase & Co. now owns 50,137 shares of the company’s stock worth $1,411,000 after purchasing an additional 15,757 shares in the last quarter. Barclays PLC raised its holdings in SendGrid by 225.9% in the 1st quarter. Barclays PLC now owns 4,282 shares of the company’s stock worth $121,000 after purchasing an additional 2,968 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in SendGrid in the 1st quarter worth $286,000. Institutional investors and hedge funds own 58.02% of the company’s stock.
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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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