Franklin Resources Inc. Buys 1,701 Shares of PagerDuty, Inc. (NYSE:PD)

Franklin Resources Inc. boosted its stake in shares of PagerDuty, Inc. (NYSE:PD) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,915 shares of the company’s stock after purchasing an additional 1,701 shares during the quarter. Franklin Resources Inc.’s holdings in PagerDuty were worth $614,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its position in shares of PagerDuty by 33.4% during the third quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company’s stock valued at $14,995,000 after purchasing an additional 202,382 shares during the period. Barclays PLC increased its holdings in PagerDuty by 24.2% in the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock valued at $16,716,000 after buying an additional 175,733 shares during the period. Edgestream Partners L.P. raised its stake in shares of PagerDuty by 297.0% in the 3rd quarter. Edgestream Partners L.P. now owns 219,294 shares of the company’s stock valued at $4,068,000 after buying an additional 164,061 shares in the last quarter. RGM Capital LLC lifted its holdings in shares of PagerDuty by 3.3% during the 2nd quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock worth $103,286,000 after acquiring an additional 143,701 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of PagerDuty during the 2nd quarter valued at about $2,956,000. 97.26% of the stock is owned by institutional investors.

Insider Activity

In other PagerDuty news, CEO Jennifer Tejada sold 12,500 shares of PagerDuty stock in a transaction on Thursday, December 12th. The shares were 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 of the company’s stock, valued at approximately $18,261,535.72. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelley Webb sold 6,246 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the completion of the transaction, the insider now owns 216,572 shares in the company, valued at $3,924,284.64. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,896 shares of company stock valued at $1,985,061. Company insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PD shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Bank of America decreased 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. Craig Hallum dropped their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Scotiabank reduced their target price on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 4th. Finally, Morgan Stanley dropped their target price on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.09.

PagerDuty Stock Performance

Shares of PagerDuty stock opened at $18.00 on Tuesday. The firm has a 50 day simple moving average of $19.49 and a 200 day simple moving average of $19.56. PagerDuty, Inc. has a fifty-two week low of $16.46 and a fifty-two week high of $26.70. 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 firm has a market cap of $1.62 billion, a P/E ratio of -22.50 and a beta of 1.09.

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.