PagerDuty, Inc. (NYSE:PD) Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 135.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,829 shares of the company's stock after buying an additional 22,305 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in PagerDuty were worth $709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of PagerDuty by 285.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock valued at $23,444,000 after acquiring an additional 936,257 shares during the period. Raymond James Financial Inc. acquired a new position in PagerDuty in the fourth quarter valued at $6,574,000. Barclays PLC raised its holdings in shares of PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company's stock valued at $16,716,000 after buying an additional 175,733 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of PagerDuty by 297.0% during the third quarter. Edgestream Partners L.P. now owns 219,294 shares of the company's stock worth $4,068,000 after buying an additional 164,061 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of PagerDuty by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock worth $16,531,000 after buying an additional 100,207 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

Several analysts have commented on PD shares. Canaccord Genuity Group reduced their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Royal Bank of Canada decreased their price target on PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, March 14th. The Goldman Sachs Group dropped their price objective 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. Bank of America cut shares of PagerDuty from a "buy" rating to an "underperform" rating and reduced their target price for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.73.

Insiders Place Their Bets

In other news, CEO Jennifer Tejada sold 1,569 shares of the firm's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the transaction, the chief executive officer now directly 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 document filed with the SEC, which is available through this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was 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 of the company's stock, 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. Insiders have sold 10,048 shares of company stock valued at $186,699 in the last ninety days. Insiders own 7.60% of the company's stock.

PagerDuty Price Performance

Shares of PagerDuty stock traded down $0.10 on Wednesday, hitting $18.28. The company's stock had a trading volume of 214,795 shares, compared to its average volume of 1,060,056. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The firm has a fifty day moving average price of $18.43 and a 200-day moving average price of $18.71. PagerDuty, Inc. has a 52-week low of $15.49 and a 52-week high of $23.40. The company has a market capitalization of $1.67 billion, a P/E ratio of -22.90 and a beta of 1.12.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly 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 net margin of 16.29% and a negative return on equity of 22.02%. The business had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same period in the prior year, the business earned $0.17 earnings per share. The company's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts expect that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

PagerDuty declared that its board has approved a stock repurchase plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is 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.