ExodusPoint Capital Management LP Acquires Shares of 30,300 PagerDuty, Inc. (NYSE:PD)

ExodusPoint Capital Management LP bought a new position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 30,300 shares of the company's stock, valued at approximately $553,000.

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in shares of PagerDuty during the fourth quarter valued at $43,000. Picton Mahoney Asset Management bought a new stake in PagerDuty in the 4th quarter valued at about $58,000. Vinva Investment Management Ltd acquired a new position in PagerDuty during the 4th quarter valued at about $139,000. PNC Financial Services Group Inc. grew its position in PagerDuty by 24.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock worth $184,000 after purchasing an additional 1,965 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of PagerDuty by 35.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company's stock valued at $249,000 after purchasing an additional 3,533 shares during the period. Institutional investors own 97.26% of the company's stock.

PagerDuty Stock Down 1.5 %

Shares of PD stock traded down $0.22 on Thursday, hitting $14.87. The company's stock had a trading volume of 165,399 shares, compared to its average volume of 1,075,004. PagerDuty, Inc. has a fifty-two week low of $14.40 and a fifty-two week high of $23.12. The firm's fifty day moving average price is $17.60 and its 200-day moving average price is $18.50. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -18.62 and a beta of 1.06. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. PagerDuty's quarterly 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 EPS. Research analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has approved a stock buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America lowered PagerDuty from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. 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 note on Wednesday. Canaccord Genuity Group cut their price objective 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. Truist Financial decreased their target price on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, The Goldman Sachs Group lowered their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" 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 given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $20.55.

Insider Buying and Selling

In related news, CEO Jennifer Tejada sold 1,569 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the transaction, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.60% of the stock is currently owned by insiders.

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.