Dynamic Technology Lab Private Ltd Has $193,000 Stock Position in PagerDuty, Inc. (NYSE:PD)

Dynamic Technology Lab Private Ltd lowered its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 88.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,583 shares of the company's stock after selling 78,093 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in PagerDuty were worth $193,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PD. Alliancebernstein L.P. increased its stake in PagerDuty by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock valued at $1,691,000 after acquiring an additional 674 shares during the period. 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 valued at $614,000 after purchasing an additional 1,701 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of PagerDuty by 24.3% in the fourth 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 in the last quarter. Handelsbanken Fonder AB lifted its position in PagerDuty by 12.4% in the fourth quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company's stock worth $347,000 after purchasing an additional 2,100 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in PagerDuty during the fourth quarter worth $43,000. Institutional investors own 97.26% of the company's stock.

Insider Transactions at PagerDuty

In related news, CEO Jennifer Tejada sold 1,569 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 868,311 shares of the company's stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.60% of the company's stock.

PagerDuty Trading Down 1.7 %

PD traded down $0.26 during trading on Thursday, reaching $14.83. 204,742 shares of the company's stock were exchanged, compared to its average volume of 1,075,173. The company's fifty day moving average price is $17.60 and its 200-day moving average price is $18.50. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $1.35 billion, a PE ratio of -18.59 and a beta of 1.06. PagerDuty, Inc. has a fifty-two week low of $14.40 and a fifty-two week high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $119.53 million. During the same quarter last year, the business posted $0.17 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Truist Financial cut their target price on PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Morgan Stanley dropped their price objective on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Finally, Bank of America lowered PagerDuty from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, PagerDuty currently has a consensus rating of "Hold" and a consensus price target of $20.55.

About PagerDuty

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.