Fred Alger Management LLC Purchases 1,578 Shares of PagerDuty, Inc. (NYSE:PD)

Fred Alger Management LLC boosted its position in shares of PagerDuty, Inc. (NYSE:PD) by 170.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,503 shares of the company’s stock after buying an additional 1,578 shares during the quarter. Fred Alger Management LLC’s holdings in PagerDuty were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its position in PagerDuty by 115.1% during the second quarter. Cubist Systematic Strategies LLC now owns 217,543 shares of the company’s stock worth $4,988,000 after acquiring an additional 116,422 shares in the last quarter. Marshall Wace LLP raised its position in PagerDuty by 28.4% during the second quarter. Marshall Wace LLP now owns 46,100 shares of the company’s stock worth $1,057,000 after acquiring an additional 10,200 shares in the last quarter. RGM Capital LLC raised its position in PagerDuty by 3.3% during the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock worth $103,286,000 after acquiring an additional 143,701 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of PagerDuty by 12.7% in the second quarter. Ensign Peak Advisors Inc now owns 44,326 shares of the company’s stock valued at $1,016,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of PagerDuty in the second quarter valued at $181,000. 97.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PD shares. Royal Bank of Canada decreased their price objective on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. The Goldman Sachs Group decreased their price objective on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Robert W. Baird decreased their price objective on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Scotiabank decreased their price objective on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PagerDuty currently has an average rating of “Hold” and an average target price of $21.91.

PagerDuty Trading Up 1.9 %

PD stock opened at $18.49 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.13 and a current ratio of 2.13. The company’s 50-day simple moving average is $19.08 and its 200 day simple moving average is $20.45. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70. The company has a market capitalization of $1.77 billion, a PE ratio of -18.31 and a beta of 1.05.

PagerDuty (NYSE:PD) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. As a group, sell-side analysts anticipate that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other PagerDuty news, CEO Jennifer Tejada sold 2,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total transaction of $44,000.00. Following the sale, the chief executive officer now directly owns 1,015,637 shares in the company, valued at $22,344,014. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Howard Wilson sold 12,108 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total value of $248,092.92. Following the completion of the transaction, the chief financial officer now owns 594,202 shares of the company’s stock, valued at $12,175,198.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Tejada sold 2,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $22.00, for a total transaction of $44,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,015,637 shares of the company’s stock, valued at approximately $22,344,014. The disclosure for this sale can be found here. Insiders have sold 110,244 shares of company stock worth $2,316,980 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

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.