AMI Asset Management Corp Trims Position in PagerDuty, Inc. (NYSE:PD)

AMI Asset Management Corp cut its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 64.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,093 shares of the company's stock after selling 40,164 shares during the quarter. AMI Asset Management Corp's holdings in PagerDuty were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its stake in PagerDuty by 6,298.4% during the 2nd 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 in the last quarter. Clearline Capital LP acquired a new position in PagerDuty during the 2nd quarter worth $1,323,000. Natixis Advisors LLC grew its stake in PagerDuty by 172.8% during the 2nd quarter. Natixis Advisors LLC now owns 39,733 shares of the company's stock worth $911,000 after purchasing an additional 25,170 shares in the last quarter. RGM Capital LLC grew its stake in PagerDuty by 3.3% during the 2nd quarter. RGM Capital LLC now owns 4,504,394 shares of the company's stock worth $103,286,000 after purchasing an additional 143,701 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in PagerDuty by 214.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 57,558 shares of the company's stock worth $1,320,000 after purchasing an additional 39,258 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shelley Webb sold 6,246 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the sale, the insider now owns 216,572 shares in the company, valued at $3,924,284.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PagerDuty news, insider Shelley Webb sold 6,246 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total transaction of $113,177.52. Following the sale, the insider now owns 216,572 shares in the company, valued at approximately $3,924,284.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Tejada sold 18,750 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the sale, the chief executive officer now owns 1,010,861 shares in the company, valued at approximately $20,308,197.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,938 shares of company stock worth $542,998 in the last quarter. Company insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on PagerDuty from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Canaccord Genuity Group lowered their price objective on PagerDuty from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. Bank of America lowered their price objective on PagerDuty from $28.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. Scotiabank lowered their price objective on PagerDuty from $23.00 to $18.00 and set a "sector perform" rating for the company in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada lowered their price objective on PagerDuty from $27.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $21.82.

PagerDuty Stock Performance

PD traded up $0.05 on Wednesday, hitting $18.43. 747,475 shares of the company traded hands, compared to its average volume of 1,143,455. The stock has a market capitalization of $1.72 billion, a PE ratio of -18.25 and a beta of 1.06. The company has a 50 day moving average of $18.38 and a 200-day moving average of $19.73. PagerDuty, Inc. has a 12-month low of $16.46 and a 12-month high of $26.70. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38.

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

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.