Spark Investment Management LLC bought a new stake in SendGrid Inc (NYSE:SEND) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,500 shares of the company’s stock, valued at approximately $371,000.
Several other hedge funds and other institutional investors have also modified their holdings of SEND. American International Group Inc. acquired a new stake in shares of SendGrid during the fourth quarter worth $134,000. Virtu Financial LLC acquired a new stake in shares of SendGrid during the fourth quarter worth $297,000. UBS Asset Management Americas Inc. acquired a new position in SendGrid in the fourth quarter valued at about $1,469,000. BlackRock Inc. acquired a new position in SendGrid during the fourth quarter worth about $16,723,000. Finally, Bank of New York Mellon Corp acquired a new position in SendGrid during the fourth quarter worth about $409,000. 41.22% of the stock is currently owned by institutional investors.
Shares of SendGrid Inc (NYSE:SEND) traded up $0.63 during midday trading on Wednesday, reaching $31.11. The company’s stock had a trading volume of 371,223 shares, compared to its average volume of 232,130. SendGrid Inc has a fifty-two week low of $17.50 and a fifty-two week high of $32.03. The company has a quick ratio of 8.71, a current ratio of 8.71 and a debt-to-equity ratio of 0.06.
SendGrid (NYSE:SEND) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $31.73 million during the quarter, compared to analysts’ expectations of $29.45 million. equities analysts forecast that SendGrid Inc will post 0.07 earnings per share for the current fiscal year.
Several brokerages have commented on SEND. Morgan Stanley boosted their target price on SendGrid from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. Stifel Nicolaus upped their target price on SendGrid from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. KeyCorp reiterated an “overweight” rating and issued a $32.00 target price (up from $26.00) on shares of SendGrid in a report on Monday, February 26th. William Blair assumed coverage on SendGrid in a report on Monday, December 11th. They set an “outperform” rating on the stock. Finally, Piper Jaffray Companies started coverage on SendGrid in a research report on Monday, December 11th. They set an “overweight” rating and a $25.00 target price on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $28.25.
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SendGrid, Inc provides a digital communication platform. The Company’s platform enables businesses to engage with their customers through email. It offers three services: Email application programming interface (API), marketing campaigns and Expert services. Its email API service allows developers to use its API in their preferred development framework to leverage its platform to add email functionality to their applications.
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