PagerDuty, Inc. (NYSE:PD) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,097,754 shares of the company's stock after selling 53,560 shares during the period. Geode Capital Management LLC owned approximately 2.33% of PagerDuty worth $38,315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Venturi Wealth Management LLC acquired a new position in PagerDuty in the fourth quarter valued at $43,000. Picton Mahoney Asset Management acquired a new stake in PagerDuty during the 4th quarter worth approximately $58,000. Vinva Investment Management Ltd purchased a new position in PagerDuty in the fourth quarter valued at approximately $139,000. PNC Financial Services Group Inc. lifted its position in PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after buying an additional 1,965 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in PagerDuty by 22.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company's stock worth $247,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

PagerDuty Stock Performance

NYSE:PD traded down $0.37 during trading hours on Friday, reaching $14.72. 1,343,708 shares of the stock were exchanged, compared to its average volume of 1,078,374. The stock has a market capitalization of $1.34 billion, a P/E ratio of -18.40 and a beta of 1.06. The firm has a 50 day simple moving average of $17.52 and a 200-day simple moving average of $18.47. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty, Inc. has a 52 week low of $14.40 and a 52 week high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last announced 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. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $121.45 million for the quarter, compared to analysts' expectations of $119.53 million. During the same period last year, the business posted $0.17 earnings per share. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

PagerDuty declared that its board has initiated a share repurchase program on Thursday, March 13th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at PagerDuty

In related news, CEO Jennifer Tejada sold 1,569 shares of the business'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 sale, the chief executive officer now owns 868,311 shares of the company's stock, valued at $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.