ArrowMark Colorado Holdings LLC Reduces Stake in PagerDuty, Inc. (NYSE:PD)

ArrowMark Colorado Holdings LLC decreased its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 51.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 488,104 shares of the company's stock after selling 511,043 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.52% of PagerDuty worth $9,054,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Benjamin Edwards Inc. lifted its position in shares of PagerDuty by 12,322.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 48,076 shares of the company's stock worth $892,000 after buying an additional 47,689 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in PagerDuty by 297.0% in the third quarter. Edgestream Partners L.P. now owns 219,294 shares of the company's stock worth $4,068,000 after acquiring an additional 164,061 shares during the last quarter. Firsthand Capital Management Inc. boosted its stake in PagerDuty by 8,900.0% in the third quarter. Firsthand Capital Management Inc. now owns 90,000 shares of the company's stock valued at $1,670,000 after acquiring an additional 89,000 shares during the period. Fred Alger Management LLC grew its holdings in shares of PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company's stock valued at $76,000 after purchasing an additional 1,594 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PagerDuty by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,458 shares of the company's stock worth $4,052,000 after purchasing an additional 3,232 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Stock Down 1.4 %

NYSE PD traded down $0.30 on Tuesday, hitting $21.35. 2,034,137 shares of the company were exchanged, compared to its average volume of 1,127,937. PagerDuty, Inc. has a 1-year low of $16.46 and a 1-year high of $26.70. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38. The firm has a 50 day moving average of $18.94 and a two-hundred day moving average of $19.60.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping 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 business had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. During the same quarter last year, the business posted ($0.18) EPS. The firm's revenue was up 7.7% compared to the same quarter last year. On average, research analysts expect that PagerDuty, Inc. will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PD. JPMorgan Chase & Co. cut their price objective on shares of PagerDuty from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group cut their price target on PagerDuty from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Robert W. Baird decreased their price objective on PagerDuty from $22.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Bank of America cut their target price on PagerDuty from $28.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Finally, Craig Hallum decreased their price target on PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.00.

Insider Activity

In other news, CAO Mitra Rezvan sold 2,942 shares of PagerDuty stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total value of $53,132.52. Following the completion of the sale, the chief accounting officer now directly owns 108,449 shares in the company, valued at approximately $1,958,588.94. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shelley Webb sold 6,246 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total transaction of $113,177.52. Following the completion of the transaction, the insider now directly owns 216,572 shares in the company, valued at approximately $3,924,284.64. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,396 shares of company stock worth $1,733,561 in the last quarter. Corporate 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.