PagerDuty, Inc. (NYSE:PD) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP increased its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 989.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 721,953 shares of the company's stock after buying an additional 655,655 shares during the period. Marshall Wace LLP owned about 0.80% of PagerDuty worth $13,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PD. Venturi Wealth Management LLC acquired a new stake in shares of PagerDuty during the fourth quarter worth $43,000. Picton Mahoney Asset Management purchased a new stake in PagerDuty in the 4th quarter valued at about $58,000. Vinva Investment Management Ltd purchased a new stake in PagerDuty in the 4th quarter valued at about $139,000. PNC Financial Services Group Inc. increased its stake in shares of PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after acquiring an additional 1,965 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of PagerDuty by 35.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company's stock worth $249,000 after acquiring an additional 3,533 shares during the period. Hedge funds and other institutional investors own 97.26% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the transaction, the chief executive officer now directly owns 868,311 shares of the company's stock, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada cut their target price on PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group lowered their price target on PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group cut their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Bank of America lowered PagerDuty from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $20.55.

PagerDuty Stock Up 0.3 %

Shares of PagerDuty stock traded up $0.04 during trading hours on Friday, hitting $15.72. 1,281,163 shares of the company's stock traded hands, compared to its average volume of 1,073,547. PagerDuty, Inc. has a twelve month low of $14.30 and a twelve month high of $23.12. The company has a market cap of $1.43 billion, a PE ratio of -19.65 and a beta of 1.06. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The stock has a 50 day simple moving average of $17.09 and a 200-day simple moving average of $18.38.

PagerDuty (NYSE:PD - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $121.45 million during the quarter, compared to analysts' expectations of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. Equities research analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

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.