19,300 Shares in PagerDuty, Inc. (NYSE:PD) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in PagerDuty, Inc. (NYSE:PD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,300 shares of the company’s stock, valued at approximately $352,000.

Several other institutional investors have also recently bought and sold shares of PD. JPMorgan Chase & Co. raised its holdings in shares of PagerDuty by 285.8% in the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock valued at $23,444,000 after purchasing an additional 936,257 shares during the last quarter. Raymond James Financial Inc. bought a new position in PagerDuty in the fourth quarter valued at $6,574,000. Barclays PLC grew its position in PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company’s stock valued at $16,716,000 after purchasing an additional 175,733 shares in the last quarter. Bank of New York Mellon Corp increased its stake in PagerDuty by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock valued at $16,531,000 after buying an additional 100,207 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of PagerDuty by 18.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 579,305 shares of the company’s stock worth $10,578,000 after buying an additional 89,400 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PD. Truist Financial lowered their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group lowered their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Canaccord Genuity Group cut their price objective on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday, March 14th. Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and decreased their target price for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, Royal Bank of Canada dropped their price target on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.73.

PagerDuty Trading Down 8.7 %

PD stock opened at $15.52 on Friday. PagerDuty, Inc. has a one year low of $15.37 and a one year high of $23.40. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -19.39 and a beta of 1.06. The company has a fifty day moving average price of $18.32 and a two-hundred day moving average price of $18.69. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The company had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter last year, the company posted $0.17 EPS. PagerDuty’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the transaction, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,048 shares of company stock worth $186,699 over the last quarter. Company insiders own 7.60% 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.