Rhumbline Advisers Boosts Position in PagerDuty, Inc. (NYSE:PD)

Rhumbline Advisers increased its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 138,063 shares of the company’s stock after acquiring an additional 3,888 shares during the quarter. Rhumbline Advisers’ holdings in PagerDuty were worth $3,166,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in PagerDuty by 12.5% during the second quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock worth $243,156,000 after buying an additional 1,180,202 shares during the period. Vanguard Group Inc. increased its position in PagerDuty by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,631,790 shares of the company’s stock worth $218,449,000 after buying an additional 33,454 shares during the period. Janus Henderson Group PLC increased its position in PagerDuty by 1.9% during the first quarter. Janus Henderson Group PLC now owns 3,450,388 shares of the company’s stock worth $78,254,000 after buying an additional 64,359 shares during the period. Goldman Sachs Group Inc. increased its position in PagerDuty by 65.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock worth $52,911,000 after buying an additional 904,136 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in PagerDuty by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,948 shares of the company’s stock worth $19,283,000 after buying an additional 19,626 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PD. Robert W. Baird cut their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Scotiabank cut their price target on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley cut their price target on PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. TD Cowen dropped their target price on PagerDuty from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, Bank of America dropped their target price on PagerDuty from $28.00 to $23.00 and set a “buy” 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.91.

Insider Activity

In other news, CEO Jennifer Tejada sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $22.00, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Howard Wilson sold 12,108 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was 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 directly owns 594,202 shares in the company, valued at $12,175,198.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total value of $44,000.00. Following the completion of the transaction, the chief executive officer now owns 1,015,637 shares of the company’s stock, valued at $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 three months. 7.60% of the stock is currently owned by corporate insiders.

PagerDuty Trading Up 0.6 %

Shares of PD stock opened at $17.68 on Wednesday. The business’s fifty day moving average price is $19.48 and its 200 day moving average price is $20.70. PagerDuty, Inc. has a 1-year low of $16.46 and a 1-year high of $26.70. The firm has a market capitalization of $1.65 billion, a PE ratio of -17.50 and a beta of 1.05. 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 (NYSE:PD) last posted its earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. PagerDuty’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) earnings per share. As a group, sell-side analysts forecast that PagerDuty, Inc. will post -0.37 EPS for the current fiscal year.

About PagerDuty

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.