SendGrid Inc (SEND) Insider Stephen M. Sloan Sells 15,000 Shares

SendGrid Inc (NYSE:SEND) insider Stephen M. Sloan sold 15,000 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $32.51, for a total value of $487,650.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of SEND stock traded up $1.67 during mid-day trading on Tuesday, hitting $33.60. 691,600 shares of the company’s stock were exchanged, compared to its average volume of 689,981. The company has a quick ratio of 10.83, a current ratio of 10.83 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.48 billion and a price-to-earnings ratio of -176.84. SendGrid Inc has a fifty-two week low of $17.50 and a fifty-two week high of $38.66.

SendGrid (NYSE:SEND) last issued its earnings results on Tuesday, July 31st. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $35.68 million during the quarter, compared to analysts’ expectations of $34.32 million. As a group, analysts anticipate that SendGrid Inc will post -0.04 earnings per share for the current fiscal year.

Several research firms have recently issued reports on SEND. First Analysis cut SendGrid from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 16th. Stifel Nicolaus cut SendGrid from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Zacks Investment Research cut SendGrid from a “buy” rating to a “hold” rating in a report on Friday, September 7th. KeyCorp raised their price objective on SendGrid from $32.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, September 4th. Finally, Morgan Stanley raised their price objective on SendGrid from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.00.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of SendGrid by 33.8% in the 2nd quarter. BlackRock Inc. now owns 1,287,514 shares of the company’s stock worth $34,143,000 after buying an additional 325,601 shares during the period. Wells Fargo & Company MN raised its position in shares of SendGrid by 207.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,265,787 shares of the company’s stock worth $33,569,000 after buying an additional 854,472 shares during the period. FMR LLC raised its position in shares of SendGrid by 172.6% in the 2nd quarter. FMR LLC now owns 957,240 shares of the company’s stock worth $25,386,000 after buying an additional 606,050 shares during the period. OppenheimerFunds Inc. purchased a new position in shares of SendGrid in the 2nd quarter worth $15,842,000. Finally, Waddell & Reed Financial Inc. purchased a new position in shares of SendGrid in the 2nd quarter worth $14,989,000. 58.02% of the stock is currently owned by institutional investors and hedge funds.

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.

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Insider Buying and Selling by Quarter for SendGrid (NYSE:SEND)

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