Quantbot Technologies LP Acquires 43,302 Shares of PagerDuty, Inc. (NYSE:PD)

Quantbot Technologies LP lifted its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 86.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 93,381 shares of the company's stock after purchasing an additional 43,302 shares during the period. Quantbot Technologies LP owned about 0.10% of PagerDuty worth $1,705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PD. Venturi Wealth Management LLC purchased a new position in shares of PagerDuty during the fourth quarter valued at about $43,000. Quarry LP boosted its position in PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company's stock valued at $52,000 after acquiring an additional 1,384 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of PagerDuty during the 4th quarter worth approximately $58,000. Fred Alger Management LLC lifted its stake in shares of PagerDuty by 63.7% in the 3rd quarter. Fred Alger Management LLC now owns 4,097 shares of the company's stock valued at $76,000 after purchasing an additional 1,594 shares during the period. Finally, Vinva Investment Management Ltd bought a new stake in shares of PagerDuty during the fourth quarter valued at approximately $139,000. Institutional investors own 97.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PD. Bank of America downgraded PagerDuty from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Truist Financial lowered their price target on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. Royal Bank of Canada lowered their target price on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Finally, Canaccord Genuity Group dropped their price target on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.73.

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Insider Activity

In related news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the company's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 10,048 shares of company stock valued at $186,699 in the last quarter. 7.60% of the stock is currently owned by insiders.

PagerDuty Stock Performance

PD traded down $0.25 during midday trading on Friday, hitting $18.78. 1,148,614 shares of the company traded hands, compared to its average volume of 1,065,385. The company's 50-day moving average is $18.43 and its 200 day moving average is $18.68. 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 firm has a market capitalization of $1.71 billion, a PE ratio of -23.47 and a beta of 1.12. PagerDuty, Inc. has a 52 week low of $15.49 and a 52 week high of $23.40.

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

PagerDuty declared that its board has authorized a share buyback program on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

PagerDuty Company 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.