PagerDuty, Inc. (NYSE:PD – Free Report) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 7,270,000 shares, a decrease of 19.8% from the May 31st total of 9,070,000 shares. Based on an average trading volume of 1,620,000 shares, the short-interest ratio is currently 4.5 days.
Insider Activity at PagerDuty
In other PagerDuty news, SVP Shelley Webb sold 2,082 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $30.04, for a total value of $62,543.28. Following the transaction, the senior vice president now directly owns 227,158 shares in the company, valued at approximately $6,823,826.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PagerDuty news, CEO Jennifer Tejada sold 71,375 shares of the company’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $31.99, for a total value of $2,283,286.25. Following the transaction, the chief executive officer now directly owns 796,627 shares in the company, valued at approximately $25,484,097.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Shelley Webb sold 2,082 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $30.04, for a total transaction of $62,543.28. Following the completion of the transaction, the senior vice president now owns 227,158 shares in the company, valued at $6,823,826.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,457 shares of company stock valued at $5,648,130. Insiders own 7.90% of the company’s stock.
Institutional Investors Weigh In On PagerDuty
A number of hedge funds and other institutional investors have recently modified their holdings of PD. JPMorgan Chase & Co. raised its position in PagerDuty by 102.5% in the first quarter. JPMorgan Chase & Co. now owns 263,244 shares of the company’s stock worth $9,000,000 after acquiring an additional 133,253 shares in the last quarter. Raymond James & Associates raised its position in PagerDuty by 18.7% in the first quarter. Raymond James & Associates now owns 48,652 shares of the company’s stock worth $1,663,000 after acquiring an additional 7,659 shares in the last quarter. PNC Financial Services Group Inc. raised its position in PagerDuty by 270.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,572 shares of the company’s stock worth $53,000 after acquiring an additional 1,148 shares in the last quarter. MetLife Investment Management LLC raised its position in PagerDuty by 53.8% in the first quarter. MetLife Investment Management LLC now owns 44,055 shares of the company’s stock worth $1,506,000 after acquiring an additional 15,413 shares in the last quarter. Finally, Rhumbline Advisers raised its position in PagerDuty by 17.3% in the first quarter. Rhumbline Advisers now owns 104,689 shares of the company’s stock worth $3,579,000 after acquiring an additional 15,422 shares in the last quarter. 91.61% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently commented on PD shares. Robert W. Baird cut their price target on shares of PagerDuty from $35.00 to $32.00 in a report on Friday, June 2nd. Craig Hallum lowered shares of PagerDuty from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Friday, June 2nd. Morgan Stanley raised 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. Finally, Royal Bank of Canada lowered their price objective on shares of PagerDuty from $37.00 to $32.00 in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, PagerDuty currently has an average rating of “Moderate Buy” and an average price target of $33.30.
PagerDuty Stock Performance
PD stock opened at $22.51 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -18.76 and a beta of 0.85. PagerDuty has a 1 year low of $19.51 and a 1 year high of $35.33. The stock’s fifty day moving average is $25.91 and its two-hundred day moving average is $28.34.
PagerDuty (NYSE:PD – Free Report) last posted its earnings results on Thursday, June 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The company had revenue of $103.25 million for the quarter, compared to analysts’ expectations of $103.25 million. PagerDuty had a negative return on equity of 35.07% and a negative net margin of 27.74%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted ($0.33) earnings per share. On average, research analysts predict that PagerDuty will post -0.57 EPS for the current year.
About PagerDuty
PagerDuty, Inc engages in the operation of a digital operations management platform in the United States, EMEA, the Asia Pacific, and Japan. The company’s digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage powerful machine learning to correlate, process, and predict opportunities and issues.