JPMorgan Chase & Co. Increases Position in PagerDuty, Inc. (NYSE:PD)

JPMorgan Chase & Co. lifted its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 285.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,263,841 shares of the company’s stock after acquiring an additional 936,257 shares during the period. JPMorgan Chase & Co.’s holdings in PagerDuty were worth $23,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PD. Quarry LP boosted its stake in PagerDuty by 1,537.2% in the second quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after acquiring an additional 1,322 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of PagerDuty by 170.6% in the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after purchasing an additional 1,578 shares during the period. Headlands Technologies LLC purchased a new position in PagerDuty in the second quarter valued at approximately $114,000. Point72 DIFC Ltd bought a new position in PagerDuty during the third quarter valued at $163,000. Finally, nVerses Capital LLC bought a new position in PagerDuty during the third quarter valued at $176,000. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Stock Up 1.0 %

Shares of NYSE PD opened at $17.70 on Thursday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The company has a market cap of $1.60 billion, a P/E ratio of -22.12 and a beta of 1.13. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70. The business has a 50-day simple moving average of $19.48 and a two-hundred day simple moving average of $19.42.

Insider Activity

In other news, CEO Jennifer Tejada sold 12,500 shares of PagerDuty stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $20.12, for a total transaction of $251,500.00. Following the completion of the sale, the chief executive officer now owns 907,631 shares in the company, valued at approximately $18,261,535.72. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,587 shares of company stock worth $1,962,070. 7.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Royal Bank of Canada boosted their price objective on PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.09.

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.