PagerDuty, Inc. (NYSE:PD) Stake Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in PagerDuty, Inc. (NYSE:PD) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,322,538 shares of the company’s stock after selling 162,700 shares during the quarter. Renaissance Technologies LLC owned about 1.38% of PagerDuty worth $30,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PD. Private Advisor Group LLC bought a new stake in PagerDuty in the fourth quarter worth about $319,000. Charles Schwab Investment Management Inc. raised its position in PagerDuty by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,948 shares of the company’s stock worth $19,283,000 after acquiring an additional 19,626 shares in the last quarter. Norges Bank bought a new stake in PagerDuty in the fourth quarter worth about $15,912,000. Quest Partners LLC bought a new stake in PagerDuty in the fourth quarter worth about $221,000. Finally, Resolute Advisors LLC bought a new stake in PagerDuty in the fourth quarter worth about $142,000. 97.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PD shares. Robert W. Baird dropped their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Craig Hallum dropped their price target on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Bank of America dropped their price target on PagerDuty from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. The Goldman Sachs Group dropped their price target on PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada dropped their price target on PagerDuty from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.91.

PagerDuty Trading Up 3.7 %

Shares of NYSE PD opened at $18.17 on Friday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -17.99 and a beta of 1.05. The business has a 50 day simple moving average of $19.37 and a 200 day simple moving average of $20.66. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.13 and a current ratio of 2.13.

PagerDuty (NYSE:PD) last announced its quarterly earnings results 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 analysts’ expectations of $116.52 million. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) EPS. On average, research analysts predict that PagerDuty, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Activity at PagerDuty

In related news, CFO Howard Wilson sold 12,108 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 594,202 shares in the company, valued at approximately $12,175,198.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PagerDuty news, insider Shelley Webb sold 5,732 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $21.98, for a total transaction of $125,989.36. Following the completion of the sale, the insider now owns 235,657 shares of the company’s stock, valued at $5,179,740.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Wilson sold 12,108 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 594,202 shares of the company’s stock, valued at approximately $12,175,198.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,244 shares of company stock valued at $2,316,980. 7.60% of the stock is owned by corporate insiders.

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.