Kornitzer Capital Management Inc. KS Acquires New Stake in SendGrid Inc (SEND)

Kornitzer Capital Management Inc. KS acquired a new position in shares of SendGrid Inc (NYSE:SEND) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 197,135 shares of the company’s stock, valued at approximately $5,228,000. Kornitzer Capital Management Inc. KS owned about 0.45% of SendGrid as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Wells Fargo & Company MN grew its holdings in shares of SendGrid by 207.7% during the second 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 in the last quarter. BlackRock Inc. acquired a new position in SendGrid during the fourth quarter valued at approximately $16,723,000. Lord Abbett & CO. LLC acquired a new position in shares of SendGrid during the first quarter worth $4,867,000. Pier Capital LLC lifted its position in shares of SendGrid by 46.4% during the first quarter. Pier Capital LLC now owns 247,744 shares of the company’s stock worth $6,972,000 after purchasing an additional 78,468 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of SendGrid during the first quarter worth $2,203,000. 57.90% of the stock is currently owned by institutional investors.

In other news, insider Stephen M. Sloan sold 15,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $34.70, for a total value of $520,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sameer Dholakia sold 16,666 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $29.64, for a total value of $493,980.24. The disclosure for this sale can be found here. Insiders have sold 51,516 shares of company stock valued at $1,603,868 over the last ninety days. Insiders own 30.20% of the company’s stock.

Several analysts recently issued reports on SEND shares. Morgan Stanley upped their price target on shares of SendGrid from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. Zacks Investment Research upgraded shares of SendGrid from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. SendGrid currently has a consensus rating of “Buy” and a consensus price target of $31.50.

SEND traded up $1.56 on Friday, reaching $36.27. The company had a trading volume of 935,200 shares, compared to its average volume of 548,638. SendGrid Inc has a one year low of $17.50 and a one year high of $36.77. 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 firm has a market capitalization of $1.64 billion and a PE ratio of -186.77.

SendGrid (NYSE:SEND) last issued its quarterly earnings results on Tuesday, July 31st. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The business had revenue of $35.68 million during the quarter, compared to analyst estimates of $34.32 million. equities analysts expect that SendGrid Inc will post -0.04 EPS for the current year.

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.

See Also: Trading Strategy Methods and Types

Institutional Ownership by Quarter for SendGrid (NYSE:SEND)

Receive News & Ratings for SendGrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SendGrid and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply