Algert Global LLC Increases Holdings in PagerDuty, Inc. (NYSE:PD)

Algert Global LLC boosted its holdings in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 98.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,856 shares of the company's stock after buying an additional 33,740 shares during the period. Algert Global LLC owned approximately 0.07% of PagerDuty worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of PagerDuty by 1,537.2% in the second quarter. Quarry LP now owns 1,408 shares of the company's stock valued at $32,000 after purchasing an additional 1,322 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of PagerDuty by 28.0% in the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company's stock valued at $53,000 after purchasing an additional 508 shares during the period. Fred Alger Management LLC increased its holdings in shares of PagerDuty by 170.6% in the second quarter. Fred Alger Management LLC now owns 2,503 shares of the company's stock valued at $57,000 after purchasing an additional 1,578 shares during the period. Cambridge Trust Co. acquired a new position in shares of PagerDuty in the first quarter valued at about $68,000. Finally, Headlands Technologies LLC acquired a new position in shares of PagerDuty in the second quarter valued at about $114,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on PD shares. JPMorgan Chase & Co. lowered their target price on PagerDuty from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Canaccord Genuity Group lowered their target price on PagerDuty from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada upped their target price on PagerDuty from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday. TD Cowen lowered their target price on PagerDuty from $23.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered their target price on PagerDuty from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $22.00.

PagerDuty Price Performance

Shares of NYSE:PD traded up $0.23 during midday trading on Friday, hitting $21.24. The company had a trading volume of 816,945 shares, compared to its average volume of 1,122,455. PagerDuty, Inc. has a twelve month low of $16.46 and a twelve month high of $26.70. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -26.55 and a beta of 1.07. The business's 50-day simple moving average is $18.87 and its 200-day simple moving average is $19.61.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. PagerDuty had a negative return on equity of 20.13% and a negative net margin of 16.29%. The firm had revenue of $115.94 million during the quarter, compared to analysts' expectations of $116.52 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts predict that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Mitra Rezvan sold 2,942 shares of PagerDuty stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total value of $53,132.52. Following the completion of the transaction, the chief accounting officer now directly owns 108,449 shares in the company, valued at approximately $1,958,588.94. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.04, for a total value of $375,750.00. Following the completion of the transaction, the chief executive officer now owns 907,631 shares of the company's stock, valued at approximately $18,188,925.24. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,396 shares of company stock valued at $1,733,561 over the last quarter. 7.60% of the stock is owned by insiders.

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.