PagerDuty (NYSE:PD) Shares Gap Down – What’s Next?

PagerDuty, Inc. (NYSE:PD) gapped down prior to trading on Thursday . The stock had previously closed at $19.38, but opened at $18.70. PagerDuty shares last traded at $18.51, with a volume of 172,040 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PD. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their price target for the company from $23.00 to $18.00 in a report on Thursday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their target price on shares of PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, PagerDuty currently has an average rating of “Hold” and a consensus target price of $21.64.

PagerDuty Price Performance

The company’s 50 day simple moving average is $19.26 and its 200 day simple moving average is $19.06. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $1.68 billion, a P/E ratio of -23.36 and a beta of 1.13.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 38,392 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.05, for a total transaction of $769,759.60. Following the completion of the transaction, the chief executive officer now owns 907,631 shares in the company, valued at approximately $18,198,001.55. This represents a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now directly owns 199,122 shares of the company’s stock, valued at $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,587 shares of company stock worth $1,962,070 in the last quarter. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AMI Asset Management Corp lifted its position in PagerDuty by 154.2% during the fourth quarter. AMI Asset Management Corp now owns 56,156 shares of the company’s stock worth $1,025,000 after acquiring an additional 34,063 shares during the last quarter. Jackson Square Capital LLC bought a new position in shares of PagerDuty during the third quarter worth approximately $665,000. Glenmede Trust Co. NA lifted its holdings in PagerDuty by 11.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 721,633 shares of the company’s stock worth $13,386,000 after purchasing an additional 75,771 shares during the last quarter. Geode Capital Management LLC boosted its stake in PagerDuty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after purchasing an additional 37,147 shares during the period. Finally, Intech Investment Management LLC acquired a new position in PagerDuty in the 3rd quarter valued at $444,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.