Trexquant Investment LP Decreases Stock Position in PagerDuty, Inc. (NYSE:PD)

Trexquant Investment LP reduced its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 72.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,608 shares of the company's stock after selling 276,991 shares during the quarter. Trexquant Investment LP owned approximately 0.11% of PagerDuty worth $1,892,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in PagerDuty during the 4th quarter worth about $43,000. Quarry LP grew its stake 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 purchasing an additional 1,384 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in PagerDuty during the 4th quarter worth approximately $58,000. Vinva Investment Management Ltd purchased a new position in shares of PagerDuty during the fourth quarter worth $139,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of PagerDuty by 24.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after buying an additional 1,965 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PD. Bank of America lowered shares of PagerDuty from a "buy" rating to an "underperform" rating and cut their target price for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Royal Bank of Canada cut their price target on PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group lowered 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. The Goldman Sachs Group decreased their target price on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Finally, Truist Financial decreased their price objective on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, March 14th. 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.73.

Insider Activity at PagerDuty

In related 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.60% of the stock is currently owned by insiders.

PagerDuty Price Performance

Shares of PagerDuty stock traded up $0.13 on Monday, hitting $15.60. 53,555 shares of the company were exchanged, compared to its average volume of 1,080,377. 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 company has a 50-day moving average price of $17.83 and a 200 day moving average price of $18.57. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -19.50 and a beta of 1.06. PagerDuty, Inc. has a 1-year low of $14.40 and a 1-year high of $23.12.

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

PagerDuty announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

PagerDuty 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.