PagerDuty, Inc. (NYSE:PD) Stake Reduced by Natixis Advisors LLC

Natixis Advisors LLC lowered its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 41.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,539 shares of the company's stock after selling 15,868 shares during the quarter. Natixis Advisors LLC's holdings in PagerDuty were worth $412,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. boosted its position in PagerDuty by 1.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company's stock valued at $1,083,000 after buying an additional 819 shares during the last quarter. Quarry LP boosted its holdings in PagerDuty by 98.3% in the third quarter. Quarry LP now owns 2,792 shares of the company's stock valued at $52,000 after purchasing an additional 1,384 shares during the last quarter. Fred Alger Management LLC boosted its holdings in PagerDuty by 63.7% in the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company's stock valued at $76,000 after purchasing an additional 1,594 shares during the last quarter. Franklin Resources Inc. grew its stake in PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock valued at $614,000 after purchasing an additional 1,701 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings 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 purchasing an additional 1,965 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

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PagerDuty Stock Performance

Shares of NYSE PD traded down $0.47 during mid-day trading on Monday, hitting $18.31. The company had a trading volume of 941,154 shares, compared to its average volume of 1,064,890. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -22.88 and a beta of 1.12. The firm's 50 day simple moving average is $18.44 and its two-hundred day simple moving average is $18.71. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. PagerDuty, Inc. has a 12 month low of $15.49 and a 12 month high of $23.40.

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, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, equities research analysts forecast that PagerDuty, Inc. will post -0.27 earnings per share 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

A number of analysts have recently weighed in on PD shares. Royal Bank of Canada decreased their price target on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group dropped their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Bank of America cut shares of PagerDuty from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group reduced their target price on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Two equities research 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 has an average rating of "Hold" and a consensus price target of $20.73.

Insider Activity

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the transaction, the chief executive officer now owns 868,311 shares of the company's stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the company'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 completion of the sale, the insider now directly 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. Over the last 90 days, insiders have sold 10,048 shares of company stock valued at $186,699. Insiders own 7.60% of the company's stock.

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.