SendGrid, a provider of email services, has opened a new office in Irvine, California, tripling its space in Orange County. The facility can hold double the 60 people now employed in the area.
The news was announced amidst a report published on Monday in Stock Price News that SendGrid’s stock had been downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating.
However, several observers have recently upgraded their price objectives, Morgan Stanley from $24 to $26 per share, and KeyCorp. to $32, the report adds. The firm went public last November.
Stock News Times continues that American International Group acquired a stake worth $134,000 in fourth-quarter 2017. During the same period, Manufacturers Life Insurance Company purchased shares worth $153,000, Virtu Financial LLC for $297,000 and TIAA CREF Investment Management LLC for $313,000 and the California State Teachers Retirement System for $313,000.
The Irvine space is designed to resemble SendGrid’s Denver headquarters, and incorporates “lots of input and feedback from our easting employees,” states Pattie Money, chief people officer at SendGrid.
Money adds: “Recruiting is an essential component of a business like ours and Irvine’s strong pool of tech talent was a key factor in our decision to relocate.” The company has 400 employees overall, and also has locations in Redwood City, Orange County and London.