M&T Bank Corp Sells 50,678 Shares of PagerDuty, Inc. (NYSE:PD)

M&T Bank Corp lessened its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 49.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,900 shares of the company's stock after selling 50,678 shares during the quarter. M&T Bank Corp owned about 0.06% of PagerDuty worth $962,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its stake in shares of PagerDuty by 6,298.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 55,410 shares of the company's stock worth $1,270,000 after purchasing an additional 54,544 shares during the period. Jackson Square Capital LLC bought a new stake in PagerDuty in the 3rd quarter valued at $665,000. Clearline Capital LP bought a new position in shares of PagerDuty during the 2nd quarter worth about $1,323,000. Glenmede Trust Co. NA raised 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 valued at $13,386,000 after buying an additional 75,771 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of PagerDuty by 172.8% in the second quarter. Natixis Advisors LLC now owns 39,733 shares of the company's stock valued at $911,000 after buying an additional 25,170 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PD. JPMorgan Chase & Co. reissued an "underweight" rating and set a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on shares of PagerDuty from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. The Goldman Sachs Group lowered their target price on shares of PagerDuty from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. Bank of America dropped their target price on PagerDuty from $28.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Finally, Canaccord Genuity Group lowered their price target on PagerDuty from $26.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.09.

PagerDuty Trading Up 0.2 %

PD traded up $0.04 during mid-day trading on Monday, reaching $20.22. The stock had a trading volume of 962,200 shares, compared to its average volume of 1,140,073. The firm's fifty day simple moving average is $19.43 and its two-hundred day simple moving average is $19.64. The stock has a market capitalization of $1.82 billion, a P/E ratio of -25.22 and a beta of 1.09. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97.

Insider Activity at PagerDuty

In other news, CAO Mitra Rezvan sold 2,942 shares of PagerDuty stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 18,750 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.04, for a total value of $375,750.00. Following the sale, the chief executive officer now directly owns 907,631 shares of the company's stock, valued at approximately $18,188,925.24. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,396 shares of company stock worth $1,733,561 over the last 90 days. 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.