Vista Equity Sells Shares of SendGrid Inc., Decreasing Stake by 25%

Vista Equity Partners Management LLC has decreased its stake in SendGrid Inc (NYSE:SEND) by 25.8% during the first quarter, according to the firm’s most recent SEC filings.

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SendGrid, Inc. has not performed up to expectations. As of 2018, the company has a market capitalization of $1.18 billion and a PE ratio of -139.58. The firm reported ($0.02) earnings per share for the quarter, edging out the Thomson Reuters’ consensus estimate by $0.03. Equities research analysts predict that SendGrid Inc will post -0.1 earnings per share for the year.

Amid these indicators, Morgan Stanley boosted their target price on shares of the company from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report released Wednesday, May 2nd. Stifel Nicolaus upped their price target on shares of SendGrid from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Currently, the stock has a consensus rating of “Buy” and a consensus price target of $31.67.

Vista Equity Partners Management owned approximately 0.77% of SendGrid, a stake worth $9,571,000 as of its most recent SEC filing. SendGrid comprises 1.0% of Vista Equity Partners portfolio, making the stock its 16th largest holding. SendGrid, Inc’s last earnings results were announced on Tuesday, May 1st.

SendGrid, Inc is a US-based digital communication platform. The company offers services, such as email application programming interface (API), which lets web developers leverage the company’s API in their preferred development environment to add email functionality to their applications and marketing campaigns which allow marketers to upload contacts, manage email campaigns and engage with customers.