Nikko Asset Management Americas Inc. Has $61.44 Million Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Nikko Asset Management Americas Inc. lowered its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,364,565 shares of the company's stock after selling 374,238 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 3.73% of PagerDuty worth $61,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PD. Venturi Wealth Management LLC acquired a new position in shares of PagerDuty during the 4th quarter worth approximately $43,000. Quarry LP increased its holdings in shares of 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. Picton Mahoney Asset Management bought a new position in shares of PagerDuty in the fourth quarter valued at about $58,000. Fred Alger Management LLC lifted its stake in shares of PagerDuty by 63.7% during the 3rd quarter. Fred Alger Management LLC now owns 4,097 shares of the company's stock worth $76,000 after buying an additional 1,594 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of PagerDuty during the 3rd quarter worth about $163,000. Institutional investors own 97.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Insider Buying and Selling

In related news, insider Shelley Webb sold 7,879 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the company's stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 10,048 shares of company stock valued at $186,699 over the last ninety days. 7.60% of the stock is owned by company insiders.

PagerDuty Trading Up 0.1 %

NYSE:PD traded up $0.02 during mid-day trading on Friday, hitting $18.87. 1,762,691 shares of the company's stock were exchanged, compared to its average volume of 1,033,633. The firm has a market capitalization of $1.70 billion, a P/E ratio of -23.59 and a beta of 1.12. The company has a 50 day simple moving average of $18.32 and a 200-day simple moving average of $18.66. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty, Inc. has a fifty-two week low of $15.49 and a fifty-two week high of $23.85.

PagerDuty (NYSE:PD - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (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 return on equity of 22.02% and a negative net margin of 16.29%. PagerDuty's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. As a group, research analysts expect that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.