Raymond James & Associates Cuts Stock Position in PagerDuty, Inc. (NYSE:PD)

Raymond James & Associates reduced its position in PagerDuty, Inc. (NYSE:PD) by 17.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,014 shares of the company’s stock after selling 12,457 shares during the quarter. Raymond James & Associates owned 0.06% of PagerDuty worth $1,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PD. FNY Investment Advisers LLC lifted its stake in shares of PagerDuty by 100.0% in the 4th quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of PagerDuty by 60.2% in the 4th quarter. SG Americas Securities LLC now owns 31,239 shares of the company’s stock valued at $723,000 after acquiring an additional 11,734 shares during the last quarter. Interchange Capital Partners LLC bought a new stake in shares of PagerDuty in the 4th quarter valued at about $211,000. Harbor Capital Advisors Inc. lifted its stake in shares of PagerDuty by 6.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 17,770 shares of the company’s stock valued at $411,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of PagerDuty by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock valued at $220,465,000 after acquiring an additional 536,763 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

PagerDuty Stock Down 1.1 %

Shares of NYSE:PD opened at $20.61 on Friday. PagerDuty, Inc. has a 52-week low of $19.18 and a 52-week high of $34.61. The firm has a market capitalization of $1.91 billion, a P/E ratio of -23.42 and a beta of 0.91. The stock has a 50 day moving average price of $22.90 and a 200-day moving average price of $22.64. The company has a debt-to-equity ratio of 2.61, a quick ratio of 2.50 and a current ratio of 2.50.

PagerDuty (NYSE:PD) last announced its earnings results on Thursday, March 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.06). PagerDuty had a negative return on equity of 24.65% and a negative net margin of 18.98%. The firm had revenue of $111.12 million during the quarter, compared to the consensus estimate of $110.50 million. As a group, equities research analysts anticipate that PagerDuty, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Shelley Webb sold 6,859 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.39, for a total value of $153,573.01. Following the sale, the insider now owns 253,439 shares in the company, valued at approximately $5,674,499.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Shelley Webb sold 6,859 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.39, for a total value of $153,573.01. Following the sale, the insider now owns 253,439 shares in the company, valued at approximately $5,674,499.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mitra Rezvan sold 2,215 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total value of $47,888.30. Following the completion of the sale, the chief accounting officer now owns 119,452 shares in the company, valued at approximately $2,582,552.24. The disclosure for this sale can be found here. Insiders have sold 17,967 shares of company stock worth $424,587 in the last 90 days. Insiders own 7.90% of the company’s stock.

Wall Street Analyst Weigh In

PD has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered their price target on PagerDuty from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Robert W. Baird lowered their price target on PagerDuty from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Truist Financial raised PagerDuty from a “hold” rating to a “buy” rating and upped their price target for the company from $25.00 to $30.00 in a research report on Monday, March 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $30.00 price target on shares of PagerDuty in a research report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.25.

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.