Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in PagerDuty, Inc. (NYSE:PD)

Sumitomo Mitsui Trust Group Inc. lowered its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,364,565 shares of the company's stock after selling 374,238 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 3.73% of PagerDuty worth $61,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. increased its position in shares of PagerDuty by 1.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company's stock valued at $1,083,000 after purchasing an additional 819 shares during the last quarter. Quarry LP increased its holdings in PagerDuty by 98.3% during the third quarter. Quarry LP now owns 2,792 shares of the company's stock worth $52,000 after buying an additional 1,384 shares during the last quarter. Fred Alger Management LLC increased its holdings in PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company's stock worth $76,000 after buying an additional 1,594 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock worth $614,000 after purchasing an additional 1,701 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of PagerDuty by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,347 shares of the company's stock worth $1,154,000 after purchasing an additional 1,820 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

Insider Activity

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the business'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 owns 868,311 shares of the company's stock, valued at $17,366,220. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 199,122 shares of the company's stock, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,548 shares of company stock worth $438,199 in the last three months. Corporate insiders own 7.60% of the company's stock.

PagerDuty Price Performance

NYSE:PD traded up $0.26 during mid-day trading on Thursday, hitting $19.52. 580,229 shares of the stock traded hands, compared to its average volume of 878,753. The business's 50-day moving average price is $18.84 and its 200 day moving average price is $18.93. The company has a market cap of $1.76 billion, a PE ratio of -24.39 and a beta of 1.13. 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 12-month low of $16.46 and a 12-month high of $25.10.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America lowered shares of PagerDuty from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Royal Bank of Canada lifted their price objective on PagerDuty from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $21.64.

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.