Holocene Advisors LP Purchases 49,476 Shares of PagerDuty, Inc. (NYSE:PD)

Holocene Advisors LP raised its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 43.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,658 shares of the company's stock after buying an additional 49,476 shares during the quarter. Holocene Advisors LP owned about 0.17% of PagerDuty worth $3,017,000 at the end of the most recent reporting period.

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

PagerDuty Price Performance

Shares of PagerDuty stock traded up $0.28 on Friday, hitting $21.27. 1,061,597 shares of the company traded hands, compared to its average volume of 1,143,679. PagerDuty, Inc. has a 12-month low of $16.46 and a 12-month high of $26.70. The company has a current ratio of 1.97, a quick ratio of 2.13 and a debt-to-equity ratio of 3.52. The company has a market cap of $1.92 billion, a P/E ratio of -26.24 and a beta of 1.09. The firm's 50-day simple moving average is $19.14 and its 200 day simple moving average is $19.62.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.04. The business had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.18) earnings per share. Analysts expect that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Activity at PagerDuty

In related news, CEO Jennifer Tejada sold 38,392 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.05, for a total transaction of $769,759.60. Following the completion of the sale, the chief executive officer now directly owns 907,631 shares in the company, valued at $18,198,001.55. This represents a 4.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mitra Rezvan sold 2,942 shares of PagerDuty 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 transaction, the chief accounting officer now directly owns 108,449 shares in the company, valued at $1,958,588.94. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,396 shares of company stock valued at $1,733,561. Corporate insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

PD has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on PagerDuty from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Scotiabank reduced their target price on PagerDuty from $23.00 to $18.00 and set a "sector perform" rating for the company in a report on Wednesday, September 4th. Morgan Stanley lowered their price target on shares of PagerDuty from $24.00 to $19.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 4th. Bank of America reduced their price objective on shares of PagerDuty from $28.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Finally, TD Cowen lowered their target price on shares of PagerDuty from $23.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $22.00.

PagerDuty 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.