Quantbot Technologies LP Purchases Shares of 50,079 PagerDuty, Inc. (NYSE:PD)

Quantbot Technologies LP acquired a new position in PagerDuty, Inc. (NYSE:PD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,079 shares of the company’s stock, valued at approximately $929,000.

A number of other hedge funds have also recently made changes to their positions in PD. CWM LLC raised its position in PagerDuty by 7.2% in the 2nd quarter. CWM LLC now owns 12,982 shares of the company’s stock worth $298,000 after purchasing an additional 868 shares during the period. SteelPeak Wealth LLC purchased a new position in shares of PagerDuty in the second quarter worth about $200,000. Blue Trust Inc. lifted its stake in shares of PagerDuty by 16.5% in the 2nd quarter. Blue Trust Inc. now owns 8,872 shares of the company’s stock valued at $201,000 after acquiring an additional 1,254 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of PagerDuty by 28.0% in the 2nd 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. Finally, Bank of New York Mellon Corp boosted its holdings in PagerDuty by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 775,802 shares of the company’s stock valued at $17,789,000 after acquiring an additional 54,841 shares during the period. 97.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PD has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada lifted their target price on shares of PagerDuty from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Craig Hallum cut 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. JPMorgan Chase & Co. lowered their price objective on shares of PagerDuty from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley cut their target price on PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.00.

Insiders Place Their Bets

In other news, insider Shelley Webb sold 6,246 shares of PagerDuty stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the completion of the transaction, the insider now owns 216,572 shares of the company’s stock, valued at $3,924,284.64. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mitra Rezvan sold 2,942 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction of $53,132.52. Following the completion of the transaction, the chief accounting officer now owns 108,449 shares in the company, valued at approximately $1,958,588.94. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,396 shares of company stock worth $1,733,561. 7.60% of the stock is currently owned by company insiders.

PagerDuty Trading Up 1.1 %

PD opened at $21.24 on Monday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70. The stock has a market cap of $1.98 billion, a PE ratio of -26.55 and a beta of 1.07. The business has a 50 day moving average of $18.87 and a 200-day moving average of $19.59.

PagerDuty (NYSE:PD) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $115.94 million during the quarter, compared to analyst estimates of $116.52 million. PagerDuty had a negative return on equity of 20.13% and a negative net margin of 16.29%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. Equities research analysts predict that PagerDuty, Inc. will post -0.37 earnings per share for the current fiscal year.

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.