Goldman Sachs Group Inc. Boosts Stake in PagerDuty, Inc. (NYSE:PD)

Goldman Sachs Group Inc. lifted its holdings in PagerDuty, Inc. (NYSE:PD) by 65.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,285,588 shares of the company’s stock after purchasing an additional 904,136 shares during the period. Goldman Sachs Group Inc.’s holdings in PagerDuty were worth $52,911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PD. FNY Investment Advisers LLC lifted its stake in shares of PagerDuty by 100.0% in the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock worth $46,000 after buying an additional 1,000 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in PagerDuty during the third quarter worth about $80,000. Resolute Advisors LLC purchased a new position in PagerDuty during the fourth quarter worth about $142,000. a16z Perennial Management L.P. purchased a new position in PagerDuty during the fourth quarter worth about $148,000. Finally, Neo Ivy Capital Management purchased a new position in PagerDuty during the fourth quarter worth about $171,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Price Performance

Shares of PD opened at $21.10 on Thursday. PagerDuty, Inc. has a 1-year low of $17.92 and a 1-year high of $26.70. The stock has a market cap of $2.02 billion, a PE ratio of -20.89 and a beta of 1.00. The firm has a 50-day simple moving average of $20.41 and a two-hundred day simple moving average of $22.41. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.59 and a quick ratio of 2.59.

Insider Activity at PagerDuty

In related news, CAO Mitra Rezvan sold 2,215 shares of PagerDuty stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $21.62, for a total value of $47,888.30. Following the completion of the transaction, the chief accounting officer now owns 119,452 shares in the company, valued at $2,582,552.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Shelley Webb sold 6,859 shares of PagerDuty stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total value of $153,573.01. Following the completion of the transaction, the insider now owns 253,439 shares in the company, valued at $5,674,499.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mitra Rezvan sold 2,215 shares of PagerDuty stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $21.62, for a total transaction of $47,888.30. Following the completion of the transaction, the chief accounting officer now owns 119,452 shares of the company’s stock, valued at approximately $2,582,552.24. The disclosure for this sale can be found here. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PD has been the topic of a number of analyst reports. Canaccord Genuity Group reduced their target price on shares of PagerDuty from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Robert W. Baird reduced their target price on shares of PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Craig Hallum raised shares of PagerDuty from a “hold” rating to a “buy” rating and lifted their target price for the stock from $21.00 to $30.00 in a research note on Wednesday, June 12th. Finally, Truist Financial upgraded shares of PagerDuty from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $30.00 in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.75.

PagerDuty Company 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.