Renaissance Technologies LLC Sells 92,400 Shares of PagerDuty, Inc. (NYSE:PD)

Renaissance Technologies LLC lessened its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,189,638 shares of the company's stock after selling 92,400 shares during the period. Renaissance Technologies LLC owned 1.32% of PagerDuty worth $21,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in PagerDuty during the 3rd quarter worth approximately $278,000. Barclays PLC lifted its stake in shares of PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company's stock valued at $16,716,000 after purchasing an additional 175,733 shares during the period. Geode Capital Management LLC boosted its holdings in PagerDuty by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company's stock worth $39,915,000 after buying an additional 37,147 shares in the last quarter. Franklin Resources Inc. boosted its holdings 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, JPMorgan Chase & Co. increased its holdings in 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 buying an additional 936,257 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

PagerDuty Stock Performance

NYSE PD traded down $0.37 during trading hours on Friday, hitting $14.72. The company had a trading volume of 1,343,708 shares, compared to its average volume of 1,078,374. The business has a fifty day simple moving average of $17.52 and a 200-day simple moving average of $18.47. The firm has a market cap of $1.34 billion, a P/E ratio of -18.40 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. PagerDuty, Inc. has a fifty-two week low of $14.40 and a fifty-two week high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last posted 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 firm had revenue of $121.45 million for 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 firm's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. Equities analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its board has approved a stock buyback program on Thursday, March 13th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Canaccord Genuity Group cut their target price on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Truist Financial decreased their price objective on PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Bank of America cut PagerDuty from a "buy" rating to an "underperform" rating and lowered their price target for the company from $23.00 to $18.00 in a report on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley dropped their target price on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday. Two equities research 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. According to MarketBeat.com, PagerDuty currently has a consensus rating of "Hold" and an average price target of $20.55.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the 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 sale, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.60% of the company's stock.

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.