Bank of America cut shares of PagerDuty (NYSE:PD - Free Report) from a buy rating to an underperform rating in a research note issued to investors on Thursday, MarketBeat reports. Bank of America currently has $18.00 price objective on the stock, down from their prior price objective of $23.00.
PD has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Royal Bank of Canada upped their target price on PagerDuty from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.64.
View Our Latest Stock Analysis on PagerDuty
PagerDuty Trading Up 1.4 %
PagerDuty stock traded up $0.26 during midday trading on Thursday, reaching $18.78. The stock had a trading volume of 1,061,009 shares, compared to its average volume of 934,310. The firm's fifty day simple moving average is $19.19 and its two-hundred day simple moving average is $19.01. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. PagerDuty has a twelve month low of $16.46 and a twelve month high of $25.47. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -23.47 and a beta of 1.13.
Insider Transactions at PagerDuty
In related news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the sale, the insider now directly owns 199,122 shares of the company's stock, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the company's stock in a transaction that occurred on 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. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,756 shares of company stock worth $2,005,450. Company insiders own 7.60% of the company's stock.
Hedge Funds Weigh In On PagerDuty
Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of PagerDuty by 285.8% in the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock valued at $23,444,000 after acquiring an additional 936,257 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in PagerDuty by 33.4% in the third quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company's stock worth $14,995,000 after purchasing an additional 202,382 shares in the last quarter. Barclays PLC boosted its stake in PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company's stock worth $16,716,000 after purchasing an additional 175,733 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of PagerDuty by 297.0% during the third quarter. Edgestream Partners L.P. now owns 219,294 shares of the company's stock worth $4,068,000 after purchasing an additional 164,061 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of PagerDuty in the second quarter valued at $2,956,000. 97.26% of the stock is owned by institutional investors and hedge funds.
About PagerDuty
(
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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.
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