Arizona State Retirement System Raises Stake in PagerDuty, Inc. (NYSE:PD)

Arizona State Retirement System increased its stake in PagerDuty, Inc. (NYSE:PD) by 2.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 24,667 shares of the company’s stock after buying an additional 676 shares during the quarter. Arizona State Retirement System’s holdings in PagerDuty were worth $566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PagerDuty during the fourth quarter valued at about $4,630,000. Natixis Advisors L.P. lifted its holdings in PagerDuty by 13.9% during the fourth quarter. Natixis Advisors L.P. now owns 13,541 shares of the company’s stock valued at $313,000 after purchasing an additional 1,650 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its holdings in PagerDuty by 13.9% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 655,000 shares of the company’s stock valued at $15,163,000 after purchasing an additional 80,000 shares during the last quarter. Natixis Advisors LLC lifted its holdings in PagerDuty by 172.8% during the second quarter. Natixis Advisors LLC now owns 39,733 shares of the company’s stock valued at $911,000 after purchasing an additional 25,170 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in PagerDuty by 65.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock valued at $52,911,000 after purchasing an additional 904,136 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PD shares. Canaccord Genuity Group lowered their price target on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. The Goldman Sachs Group lowered their price target on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada lowered their price target on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley lowered their price target on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Finally, Craig Hallum lowered their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.91.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 5,732 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $21.98, for a total transaction of $125,989.36. Following the transaction, the insider now directly owns 235,657 shares in the company, valued at $5,179,740.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Shelley Webb sold 5,732 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total value of $44,000.00. Following the sale, the chief executive officer now directly owns 1,015,637 shares of the company’s stock, valued at approximately $22,344,014. The disclosure for this sale can be found here. Insiders have sold 110,244 shares of company stock worth $2,316,980 over the last ninety days. Insiders own 7.60% of the company’s stock.

PagerDuty Stock Down 1.3 %

PD stock opened at $17.58 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38. The company’s 50 day moving average is $19.55 and its 200 day moving average is $20.75. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -17.41 and a beta of 1.05. PagerDuty, Inc. has a 1-year low of $16.46 and a 1-year high of $26.70.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The business had revenue of $115.94 million for the quarter, compared to analysts’ expectations of $116.52 million. During the same period last year, the business earned ($0.18) earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts predict that PagerDuty, Inc. will post -0.37 EPS for the current fiscal year.

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.