SendGrid Inc (SEND) Stake Lessened by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in SendGrid Inc (NYSE:SEND) by 52.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,865 shares of the company’s stock after selling 15,124 shares during the period. Quantbot Technologies LP’s holdings in SendGrid were worth $510,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NumerixS Investment Technologies Inc acquired a new stake in SendGrid during the second quarter valued at approximately $174,000. Engineers Gate Manager LP acquired a new stake in SendGrid during the second quarter valued at approximately $209,000. Atria Investments LLC acquired a new stake in SendGrid during the third quarter valued at approximately $231,000. Parkwood LLC acquired a new stake in SendGrid during the third quarter valued at approximately $303,000. Finally, Chicago Equity Partners LLC acquired a new stake in SendGrid during the second quarter valued at approximately $336,000. Institutional investors and hedge funds own 84.45% of the company’s stock.

In related news, SVP Craig Kaes sold 15,391 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $32.48, for a total value of $499,899.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen M. Sloan sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The shares were 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. In the last 90 days, insiders sold 159,114 shares of company stock valued at $5,871,893. 30.20% of the stock is owned by insiders.

Shares of NYSE:SEND opened at $42.97 on Friday. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.05. SendGrid Inc has a 52 week low of $18.61 and a 52 week high of $47.72.

SendGrid (NYSE:SEND) last issued its quarterly earnings results on Tuesday, November 6th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The business had revenue of $37.20 million during the quarter, compared to the consensus estimate of $36.04 million. SendGrid had a negative net margin of 4.03% and a negative return on equity of 0.86%. On average, equities research analysts anticipate that SendGrid Inc will post -0.04 EPS for the current year.

SEND has been the subject of several recent research reports. Zacks Investment Research lowered shares of SendGrid from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. First Analysis lowered shares of SendGrid from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, October 16th. KeyCorp increased their target price on shares of SendGrid from $32.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, September 4th. Finally, Stifel Nicolaus lowered shares of SendGrid from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.00.

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About SendGrid

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.

Read More: Debt-To-Equity Ratio

Institutional Ownership by Quarter for SendGrid (NYSE:SEND)

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