Massachusetts Financial Services Co. MA Sells 947,019 Shares of PagerDuty, Inc. (NYSE:PD)

Massachusetts Financial Services Co. MA lowered its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 80.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 228,504 shares of the company's stock after selling 947,019 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.25% of PagerDuty worth $4,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in shares of PagerDuty by 28.0% during the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company's stock worth $53,000 after buying an additional 508 shares during the period. Envestnet Asset Management Inc. boosted its position in PagerDuty by 0.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 123,247 shares of the company's stock worth $2,826,000 after acquiring an additional 542 shares during the last quarter. Arizona State Retirement System grew its stake in shares of PagerDuty by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 24,667 shares of the company's stock worth $566,000 after acquiring an additional 676 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of PagerDuty by 5.1% in the second quarter. Mackenzie Financial Corp now owns 17,735 shares of the company's stock valued at $407,000 after purchasing an additional 856 shares during the last quarter. Finally, CWM LLC lifted its position in shares of PagerDuty by 7.2% in the second quarter. CWM LLC now owns 12,982 shares of the company's stock worth $298,000 after purchasing an additional 868 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

PagerDuty Trading Down 0.1 %

Shares of NYSE:PD traded down $0.03 on Wednesday, hitting $20.88. The company had a trading volume of 116,763 shares, compared to its average volume of 1,116,191. The stock has a 50 day moving average price of $18.68 and a 200 day moving average price of $19.59. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13. PagerDuty, Inc. has a 1-year low of $16.46 and a 1-year high of $26.70.

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

Analysts Set New Price Targets

PD has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of PagerDuty from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Scotiabank reduced their price target 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. TD Cowen lowered their price target on PagerDuty from $23.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, September 4th. Craig Hallum cut their price objective on PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Finally, Bank of America dropped their price target on shares of PagerDuty from $28.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $21.82.

Insider Activity at PagerDuty

In related 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 completion of the sale, the chief accounting officer now directly owns 108,449 shares in the company, valued at approximately $1,958,588.94. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shelley Webb sold 6,246 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 216,572 shares in the company, valued at $3,924,284.64. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,396 shares of company stock worth $1,733,561 in the last ninety days. 7.60% of the stock is owned by company insiders.

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.