Loomis Sayles & Co. L P Raises Position in PagerDuty, Inc. (NYSE:PD)

Loomis Sayles & Co. L P lifted its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 33.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 808,365 shares of the company's stock after buying an additional 202,382 shares during the quarter. Loomis Sayles & Co. L P owned about 0.87% of PagerDuty worth $14,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. ARK Investment Management LLC raised its position in PagerDuty by 12.5% during the second quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company's stock valued at $243,156,000 after purchasing an additional 1,180,202 shares in the last quarter. RGM Capital LLC increased its stake in shares of PagerDuty by 3.3% in the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company's stock valued at $103,286,000 after buying an additional 143,701 shares during the period. Squarepoint Ops LLC acquired a new stake in PagerDuty during the 2nd quarter worth approximately $2,956,000. Cubist Systematic Strategies LLC grew its holdings in PagerDuty by 115.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 217,543 shares of the company's stock worth $4,988,000 after acquiring an additional 116,422 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in PagerDuty in the 3rd quarter valued at approximately $1,645,000. Institutional investors own 97.26% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of PagerDuty from $24.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of PagerDuty from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Canaccord Genuity Group lowered their target price on shares of PagerDuty from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Bank of America cut their target price on PagerDuty from $28.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. Finally, TD Cowen lowered their target price on PagerDuty from $23.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have given 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 $21.82.

Insider Buying and Selling at PagerDuty

In other news, CAO Mitra Rezvan sold 2,942 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total value of $53,132.52. Following the transaction, the chief accounting officer now owns 108,449 shares in the company, valued at $1,958,588.94. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 38,392 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.05, for a total value of $769,759.60. Following the completion of the transaction, the chief executive officer now directly owns 907,631 shares of the company's stock, valued at approximately $18,198,001.55. This represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,396 shares of company stock worth $1,733,561. Corporate insiders own 7.60% of the company's stock.

PagerDuty Price Performance

NYSE:PD opened at $20.98 on Wednesday. PagerDuty, Inc. has a one year low of $16.46 and a one year high of $26.70. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a 50-day moving average of $18.68 and a 200-day moving average of $19.59.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm had revenue of $115.94 million during the quarter, compared to analyst estimates of $116.52 million. During the same period in the previous year, the company posted ($0.18) EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts anticipate that PagerDuty, Inc. will post -0.37 earnings per share for the current fiscal year.

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.