Capital Fund Management S.A. Has $2.83 Million Position in PagerDuty, Inc. (NYSE:PD)

Capital Fund Management S.A. cut its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 154,754 shares of the company's stock after selling 39,801 shares during the period. Capital Fund Management S.A. owned approximately 0.17% of PagerDuty worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of PagerDuty by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company's stock worth $39,915,000 after buying an additional 37,147 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of PagerDuty by 285.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock worth $23,444,000 after acquiring an additional 936,257 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of PagerDuty by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock valued at $16,531,000 after purchasing an additional 100,207 shares during the last quarter. Barclays PLC grew its position in PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company's stock valued at $16,716,000 after acquiring an additional 175,733 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in PagerDuty by 7.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company's stock worth $15,051,000 after purchasing an additional 55,233 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PD shares. Royal Bank of Canada cut their price objective on PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a "buy" rating to an "underperform" rating and lowered their price objective for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. The Goldman Sachs Group cut 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. Morgan Stanley decreased their price target on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, 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 note on Friday, March 14th. Two 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. According to data from MarketBeat.com, PagerDuty presently has a consensus rating of "Hold" and a consensus target price of $20.55.

PagerDuty Price Performance

Shares of NYSE:PD traded down $0.37 during midday trading on Friday, reaching $14.72. 1,343,708 shares of the company's stock traded hands, compared to its average volume of 1,077,496. The company has a fifty day simple moving average of $17.43 and a two-hundred day simple moving average of $18.45. PagerDuty, Inc. has a 1 year low of $14.40 and a 1 year high of $23.12. The company has a market cap of $1.34 billion, a P/E ratio of -18.40 and a beta of 1.06. 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 results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $121.45 million for the quarter, compared to analysts' expectations of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. Equities analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its board has authorized a share repurchase program on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Jennifer Tejada sold 1,569 shares of the company's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares of the company's stock, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The transaction 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.