State Board of Administration of Florida Retirement System bought a new position in SendGrid Inc (NYSE:SEND) in the 4th quarter, HoldingsChannel reports. The fund bought 7,712 shares of the company’s stock, valued at approximately $333,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in SendGrid during the 4th quarter valued at approximately $73,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in SendGrid by 98.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,793 shares of the company’s stock valued at $77,000 after buying an additional 891 shares in the last quarter. Legal & General Group Plc grew its holdings in SendGrid by 224.6% during the 3rd quarter. Legal & General Group Plc now owns 4,833 shares of the company’s stock valued at $178,000 after buying an additional 3,344 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in SendGrid during the 4th quarter valued at approximately $194,000. Finally, Havens Advisors LLC purchased a new stake in SendGrid during the 4th quarter valued at approximately $230,000. 83.92% of the stock is owned by institutional investors.
NYSE SEND opened at $54.08 on Friday. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.58 billion, a PE ratio of -284.63 and a beta of 0.97. SendGrid Inc has a one year low of $20.42 and a one year high of $54.94.
Separately, Zacks Investment Research raised shares of SendGrid from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. SendGrid currently has an average rating of “Buy” and a consensus target price of $36.00.
In other news, SVP Michael Tognetti sold 79,922 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $48.83, for a total transaction of $3,902,591.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carrie Palin sold 2,494 shares of the stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $40.89, for a total value of $101,979.66. The disclosure for this sale can be found here. Insiders have sold a total of 149,030 shares of company stock valued at $7,037,009 over the last quarter. Corporate insiders own 30.20% of the company’s stock.
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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