19,300 Shares in PagerDuty, Inc. (NYSE:PD) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,300 shares of the company's stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. grew its position in shares of PagerDuty by 1.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company's stock worth $1,083,000 after buying an additional 819 shares during the last quarter. Quarry LP grew its holdings in PagerDuty by 98.3% in the third quarter. Quarry LP now owns 2,792 shares of the company's stock worth $52,000 after purchasing an additional 1,384 shares during the last quarter. Franklin Resources Inc. increased its position in shares of PagerDuty by 5.4% during the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock worth $614,000 after purchasing an additional 1,701 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after purchasing an additional 1,965 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of PagerDuty by 12.4% in the 4th quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company's stock worth $347,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 97.26% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group reduced their target price on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $21.00 price objective on shares of PagerDuty in a research report on Wednesday, December 11th. Canaccord Genuity Group dropped their target price on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Truist Financial cut their price target on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Royal Bank of Canada lowered their price objective on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.73.

PagerDuty Stock Performance

Shares of PagerDuty stock traded down $1.20 during trading on Thursday, hitting $15.36. 1,190,042 shares of the company's stock were exchanged, compared to its average volume of 1,080,204. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -19.19 and a beta of 1.06. The business has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $18.58. PagerDuty, Inc. has a 52-week low of $14.40 and a 52-week high of $23.12. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. During the same quarter last year, the business posted $0.17 EPS. The company's revenue was up 9.3% on a year-over-year basis. On average, research analysts forecast that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its board has authorized a share repurchase program on Thursday, March 13th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the transaction, the chief executive officer now owns 868,311 shares in the company, valued at approximately $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.60% of the company's stock.

PagerDuty Company Profile

PagerDuty, Inc engages in the operation of a digital operations management platform in the United States and internationally. The company's digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage machine learning to correlate, process, and predict opportunities and issues.