Edgestream Partners L.P. Boosts Stock Position in PagerDuty, Inc. (NYSE:PD)

Edgestream Partners L.P. grew its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 297.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,294 shares of the company's stock after acquiring an additional 164,061 shares during the quarter. Edgestream Partners L.P. owned about 0.24% of PagerDuty worth $4,068,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. lifted its holdings in PagerDuty by 6,298.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 55,410 shares of the company's stock valued at $1,270,000 after acquiring an additional 54,544 shares during the period. Jackson Square Capital LLC bought a new position in shares of PagerDuty in the 3rd quarter worth approximately $665,000. Clearline Capital LP bought a new position in shares of PagerDuty in the 2nd quarter worth approximately $1,323,000. Natixis Advisors LLC boosted its holdings in shares of PagerDuty by 172.8% in the second quarter. Natixis Advisors LLC now owns 39,733 shares of the company's stock worth $911,000 after buying an additional 25,170 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its position in PagerDuty by 11.7% during the third quarter. Glenmede Trust Co. NA now owns 721,633 shares of the company's stock valued at $13,386,000 after buying an additional 75,771 shares during the period. 97.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Mitra Rezvan sold 2,942 shares of the firm's 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 sale, the chief accounting officer now directly owns 108,449 shares in the company, valued at $1,958,588.94. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Wilson sold 21,066 shares of PagerDuty stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.02, for a total transaction of $421,741.32. Following the transaction, the chief financial officer now directly owns 545,742 shares of the company's stock, valued at $10,925,754.84. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,396 shares of company stock worth $1,733,561. Insiders own 7.60% of the company's stock.

PagerDuty Price Performance

NYSE PD traded up $0.23 on Friday, reaching $21.24. The company had a trading volume of 816,947 shares, compared to its average volume of 892,084. The firm's 50 day moving average price is $18.87 and its 200 day moving average price is $19.59. PagerDuty, Inc. has a 12 month low of $16.46 and a 12 month high of $26.70. The stock has a market capitalization of $1.98 billion, a PE ratio of -26.55 and a beta of 1.07. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38.

PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts predict that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PD. The Goldman Sachs Group cut their price objective on shares of PagerDuty from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Scotiabank lowered their price objective on PagerDuty from $23.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Wednesday, September 4th. TD Cowen cut their price objective on PagerDuty from $23.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada raised their target price on shares of PagerDuty from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Morgan Stanley dropped their price target on shares of PagerDuty from $24.00 to $19.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.00.

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.