PagerDuty, Inc. (NYSE:PD – Get Rating)’s stock price gapped down before the market opened on Friday after Royal Bank of Canada lowered their price target on the stock from $37.00 to $32.00. The stock had previously closed at $27.75, but opened at $23.65. PagerDuty shares last traded at $23.58, with a volume of 2,649,766 shares trading hands.
PD has been the topic of several other reports. Morgan Stanley upped their price target on shares of PagerDuty from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 16th. Robert W. Baird decreased their price objective on shares of PagerDuty from $35.00 to $32.00 in a report on Friday. Finally, Craig Hallum cut shares of PagerDuty from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a research note on Friday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.30.
Insider Transactions at PagerDuty
In other news, CEO Jennifer Tejada sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $29.06, for a total transaction of $2,179,500.00. Following the completion of the transaction, the chief executive officer now directly owns 796,627 shares in the company, valued at $23,149,980.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Elena Gomez sold 23,165 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $35.04, for a total value of $811,701.60. Following the transaction, the director now owns 15,244 shares of the company’s stock, valued at $534,149.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Tejada sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $29.06, for a total value of $2,179,500.00. Following the completion of the transaction, the chief executive officer now directly owns 796,627 shares of the company’s stock, valued at $23,149,980.62. The disclosure for this sale can be found here. Insiders sold a total of 253,605 shares of company stock worth $7,934,700 over the last ninety days. Company insiders own 7.90% of the company’s stock.
Hedge Funds Weigh In On PagerDuty
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PD. HBK Sorce Advisory LLC lifted its stake in shares of PagerDuty by 100.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 30,000 shares of the company’s stock worth $27,000 after acquiring an additional 15,000 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of PagerDuty by 7.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 62,913 shares of the company’s stock worth $1,671,000 after buying an additional 4,378 shares in the last quarter. Point72 Hong Kong Ltd boosted its position in shares of PagerDuty by 666.3% in the 3rd quarter. Point72 Hong Kong Ltd now owns 15,472 shares of the company’s stock worth $357,000 after buying an additional 13,453 shares in the last quarter. M&G Investment Management Ltd. acquired a new stake in PagerDuty during the 4th quarter valued at $3,625,000. Finally, Cubist Systematic Strategies LLC grew its holdings in PagerDuty by 154.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 236,040 shares of the company’s stock valued at $5,445,000 after buying an additional 143,229 shares during the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.
PagerDuty Trading Down 16.0 %
The business has a fifty day simple moving average of $30.66 and a 200 day simple moving average of $28.40. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -16.23 and a beta of 0.93. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.21 and a current ratio of 2.21.
PagerDuty (NYSE:PD – Get Rating) last issued its quarterly earnings results on Wednesday, March 15th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. The business had revenue of $100.97 million during the quarter, compared to the consensus estimate of $98.89 million. PagerDuty had a negative net margin of 34.63% and a negative return on equity of 43.39%. As a group, equities analysts anticipate that PagerDuty, Inc. will post -0.76 EPS for the current year.
PagerDuty Company Profile
PagerDuty, Inc operates a digital operations management platform. It provides incident management solution that integrates with information technology Ops and DevOps monitoring stacks to improve operational reliability and agility. The firm collect machine generated data from virtually any software-enabled system or device, combine it with human response data, correlating and interpreting this data to understand issues and opportunities that need to be addressed in real-time.