SendGrid (SEND) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of SendGrid (NYSE:SEND) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “SendGrid, Inc. provides digital communication platform which enable businesses to engage with their customers via email reliably, effectively and at scale. SendGrid, Inc. is based in DENVER, United States. “

A number of other brokerages have also recently commented on SEND. Stifel Nicolaus lifted their target price on shares of SendGrid from $32.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, September 13th. KeyCorp lifted their target price on shares of SendGrid from $32.00 to $42.00 and gave the stock an overweight rating in a research report on Tuesday, September 4th. First Analysis assumed coverage on shares of SendGrid in a research report on Monday, September 24th. They issued a strong-buy rating and a $45.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of SendGrid from $27.00 to $29.00 and gave the stock an equal weight rating in a research report on Wednesday, August 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $36.00.

NYSE:SEND traded down $0.08 during trading hours on Tuesday, reaching $44.37. The company’s stock had a trading volume of 1,293,045 shares, compared to its average volume of 1,920,035. SendGrid has a 1 year low of $17.50 and a 1 year high of $47.72. The company has a current ratio of 10.83, a quick ratio of 10.83 and a debt-to-equity ratio of 0.05.

In other SendGrid news, insider Sameer Dholakia sold 16,666 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $34.68, for a total value of $577,976.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Craig Kaes sold 15,391 shares of the firm’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $32.48, for a total transaction of $499,899.68. The disclosure for this sale can be found here. In the last three months, insiders sold 140,239 shares of company stock worth $4,790,155. Insiders own 30.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of SendGrid by 225.9% during the 1st quarter. Barclays PLC now owns 4,282 shares of the company’s stock valued at $121,000 after purchasing an additional 2,968 shares in the last quarter. Atria Investments LLC bought a new stake in shares of SendGrid during the 3rd quarter valued at about $231,000. NumerixS Investment Technologies Inc bought a new stake in shares of SendGrid during the 2nd quarter valued at about $174,000. Cubist Systematic Strategies LLC bought a new stake in shares of SendGrid during the 1st quarter valued at about $210,000. Finally, Engineers Gate Manager LP bought a new stake in shares of SendGrid during the 2nd quarter valued at about $209,000. 58.02% of the stock is currently owned by institutional investors and hedge funds.

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.

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