AlphaQuest LLC Increases Holdings in PagerDuty, Inc. (NYSE:PD)

AlphaQuest LLC increased its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 140.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,642 shares of the company's stock after buying an additional 64,068 shares during the quarter. AlphaQuest LLC owned about 0.12% of PagerDuty worth $2,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in PagerDuty by 1.4% during the third quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company's stock worth $1,083,000 after buying an additional 819 shares in the last quarter. Quarry LP lifted its position in PagerDuty by 98.3% during the third quarter. Quarry LP now owns 2,792 shares of the company's stock worth $52,000 after buying an additional 1,384 shares in the last quarter. Fred Alger Management LLC lifted its position in PagerDuty by 63.7% during the third 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 in the last quarter. Franklin Resources Inc. lifted its position in PagerDuty by 5.4% during the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock worth $614,000 after buying an additional 1,701 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock worth $184,000 after buying an additional 1,965 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America cut PagerDuty from a "buy" rating to an "underperform" rating and cut their target price for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Royal Bank of Canada raised their target price on PagerDuty from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $21.64.

Insider Activity at PagerDuty

In related news, CEO Jennifer Tejada sold 12,500 shares of PagerDuty stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $20.12, for a total value of $251,500.00. Following the completion of the transaction, the chief executive officer now directly owns 907,631 shares in the company, valued at approximately $18,261,535.72. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shelley Webb sold 7,879 shares of PagerDuty 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 completion of the transaction, the insider now owns 199,122 shares of the company's stock, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,548 shares of company stock worth $438,199. Company insiders own 7.60% of the company's stock.

PagerDuty Trading Down 1.4 %

Shares of NYSE PD traded down $0.23 during trading on Wednesday, reaching $16.23. The stock had a trading volume of 1,017,439 shares, compared to its average volume of 1,035,133. The company has a market cap of $1.46 billion, a P/E ratio of -20.28 and a beta of 1.12. The business's 50-day moving average price is $18.29 and its 200-day moving average price is $18.72. PagerDuty, Inc. has a fifty-two week low of $16.22 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97.

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.