328,200 Shares in PagerDuty, Inc. (NYSE:PD) Bought by Scalar Gauge Management LLC

Scalar Gauge Management LLC bought a new position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 328,200 shares of the company's stock, valued at approximately $5,993,000. PagerDuty makes up 2.8% of Scalar Gauge Management LLC's investment portfolio, making the stock its 15th biggest holding. Scalar Gauge Management LLC owned approximately 0.36% of PagerDuty at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of PagerDuty by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company's stock valued at $39,915,000 after purchasing an additional 37,147 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in PagerDuty by 285.8% in the 3rd 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. Bank of New York Mellon Corp grew its holdings in PagerDuty by 12.4% during the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock valued at $16,531,000 after buying an additional 100,207 shares during the last quarter. Barclays PLC increased its position in PagerDuty by 24.2% during the third quarter. Barclays PLC now owns 901,120 shares of the company's stock worth $16,716,000 after buying an additional 175,733 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in PagerDuty by 7.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company's stock worth $15,051,000 after buying an additional 55,233 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

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Insider Activity

In other news, CEO Jennifer Tejada sold 1,569 shares of the firm's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $143,319.01. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 10,048 shares of company stock worth $186,699. 7.60% of the stock is currently owned by corporate insiders.

PagerDuty Trading Down 7.3 %

PD stock traded down $1.34 during midday trading on Thursday, reaching $16.97. 1,827,897 shares of the company's stock traded hands, compared to its average volume of 1,064,113. 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, Inc. has a fifty-two week low of $15.49 and a fifty-two week high of $23.40. The business has a 50-day moving average price of $18.42 and a two-hundred day moving average price of $18.71. The company has a market capitalization of $1.55 billion, a P/E ratio of -21.22 and a beta of 1.12.

PagerDuty (NYSE:PD - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $119.53 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its board has authorized a share repurchase program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PD shares. Royal Bank of Canada decreased their price objective on PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Bank of America lowered shares of PagerDuty from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. 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. Finally, The Goldman Sachs Group dropped their target price on PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.73.

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.