Globeflex Capital L P Makes New $496,000 Investment in PagerDuty, Inc. (NYSE:PD)

Globeflex Capital L P acquired a new position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 27,137 shares of the company's stock, valued at approximately $496,000.

Several other large investors also recently made changes to their positions in PD. AMI Asset Management Corp lifted its position in PagerDuty by 154.2% during the 4th quarter. AMI Asset Management Corp now owns 56,156 shares of the company's stock worth $1,025,000 after acquiring an additional 34,063 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of PagerDuty by 11.7% during the third quarter. Glenmede Trust Co. NA now owns 721,633 shares of the company's stock worth $13,386,000 after purchasing an additional 75,771 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PagerDuty by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company's stock valued at $39,915,000 after purchasing an additional 37,147 shares during the period. Intech Investment Management LLC acquired a new stake in PagerDuty during the 3rd quarter valued at $444,000. Finally, Franklin Resources Inc. increased its stake in PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock worth $614,000 after buying an additional 1,701 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

PagerDuty Stock Performance

Shares of NYSE:PD traded up $0.38 during trading on Wednesday, reaching $18.89. 1,548,552 shares of the company's stock traded hands, compared to its average volume of 1,032,721. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50 day moving average of $18.27 and a 200-day moving average of $18.65. PagerDuty, Inc. has a 12 month low of $15.49 and a 12 month high of $23.85. The stock has a market capitalization of $1.70 billion, a P/E ratio of -23.61 and a beta of 1.12.

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PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, beating 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 company had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. During the same period in the prior year, the company earned $0.17 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current 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.

Wall Street Analysts Forecast Growth

PD has been the subject of a number of analyst reports. Bank of America cut shares of PagerDuty from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. Truist Financial cut their target price on PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group reduced their target price on PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Royal Bank of Canada cut their price target on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Finally, Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PagerDuty presently has an average rating of "Hold" and a consensus price target of $20.73.

Insiders Place Their Bets

In other news, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction on Tuesday, January 28th. The stock was 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 owns 868,311 shares of the company's stock, valued at approximately $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the sale, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,048 shares of company stock worth $186,699. 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.