Grandeur Peak Global Advisors LLC Has $3.60 Million Position in PagerDuty, Inc. (NYSE:PD)

Grandeur Peak Global Advisors LLC cut its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,965 shares of the company's stock after selling 43,164 shares during the quarter. Grandeur Peak Global Advisors LLC owned 0.22% of PagerDuty worth $3,597,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in PagerDuty in the 4th quarter worth $43,000. Picton Mahoney Asset Management acquired a new stake in PagerDuty in the 4th quarter valued at approximately $58,000. Vinva Investment Management Ltd bought a new stake in PagerDuty in the 4th quarter valued at approximately $139,000. PNC Financial Services Group Inc. boosted its position in PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock worth $184,000 after acquiring an additional 1,965 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of PagerDuty by 22.3% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company's stock worth $247,000 after acquiring an additional 2,500 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jennifer Tejada sold 1,569 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 directly owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

PD has been the topic of several recent research reports. Truist Financial lowered their price target on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Bank of America lowered PagerDuty from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Royal Bank of Canada lowered their price target on PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group dropped their price objective on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley lowered their target price on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday. Two 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.55.

PagerDuty Stock Performance

Shares of PagerDuty stock traded down $0.24 on Thursday, hitting $14.86. The stock had a trading volume of 443,232 shares, compared to its average volume of 1,076,097. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -18.57 and a beta of 1.06. The business's 50 day moving average is $17.60 and its two-hundred day moving average is $18.50. 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 twelve month low of $14.40 and a twelve month high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $121.45 million for the quarter, compared to analysts' expectations of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 EPS. Analysts forecast that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

PagerDuty 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.