Point72 Asia Singapore Pte. Ltd. Sells 9,827 Shares of PagerDuty, Inc. (NYSE:PD)

Point72 Asia Singapore Pte. Ltd. reduced its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 86.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,571 shares of the company’s stock after selling 9,827 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in PagerDuty were worth $36,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Horizon Advisors Inc. increased its position in shares of PagerDuty by 28.0% during the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after acquiring an additional 508 shares during the last quarter. Fred Alger Management LLC raised its holdings in PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock valued at $57,000 after acquiring an additional 1,578 shares during the period. Cambridge Trust Co. purchased a new stake in shares of PagerDuty during the first quarter worth $68,000. Headlands Technologies LLC bought a new position in shares of PagerDuty in the second quarter worth $114,000. Finally, Neo Ivy Capital Management purchased a new position in shares of PagerDuty in the fourth quarter valued at $171,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 31,250 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $21.07, for a total transaction of $658,437.50. Following the transaction, the chief executive officer now owns 1,023,579 shares in the company, valued at $21,566,809.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jennifer Tejada sold 31,250 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total value of $658,437.50. Following the sale, the chief executive officer now directly owns 1,023,579 shares of the company’s stock, valued at $21,566,809.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Howard Wilson sold 12,108 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total transaction of $248,092.92. Following the sale, the chief financial officer now owns 594,202 shares in the company, valued at approximately $12,175,198.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is currently owned by corporate insiders.

PagerDuty Price Performance

Shares of PagerDuty stock opened at $18.55 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13. PagerDuty, Inc. has a one year low of $16.46 and a one year high of $26.70. The business’s 50 day simple moving average is $19.04 and its two-hundred day simple moving average is $20.37. The stock has a market capitalization of $1.73 billion, a P/E ratio of -18.37 and a beta of 1.05.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $115.94 million for the quarter, compared to analysts’ expectations of $116.52 million. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.18) earnings per share. Analysts forecast that PagerDuty, Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen reduced their target price on PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Craig Hallum decreased their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Canaccord Genuity Group dropped their price objective on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America decreased their target price on PagerDuty from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Morgan Stanley lowered their price target on PagerDuty from $24.00 to $19.00 and set an “equal weight” 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.91.

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.