Choreo LLC Invests $414,000 in PagerDuty, Inc. (NYSE:PD)

Choreo LLC bought a new position in PagerDuty, Inc. (NYSE:PD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,187 shares of the company’s stock, valued at approximately $414,000.

A number of other hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its position in PagerDuty by 28.0% during the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after purchasing an additional 508 shares in the last quarter. Arizona State Retirement System lifted its position in shares of PagerDuty by 2.8% in the second quarter. Arizona State Retirement System now owns 24,667 shares of the company’s stock valued at $566,000 after acquiring an additional 676 shares in the last quarter. CWM LLC boosted its stake in shares of PagerDuty by 7.2% in the second quarter. CWM LLC now owns 12,982 shares of the company’s stock worth $298,000 after acquiring an additional 868 shares during the last quarter. ProShare Advisors LLC increased its position in shares of PagerDuty by 6.9% during the first quarter. ProShare Advisors LLC now owns 16,045 shares of the company’s stock worth $364,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in PagerDuty by 16.5% in the 2nd quarter. Blue Trust Inc. now owns 8,872 shares of the company’s stock valued at $201,000 after purchasing an additional 1,254 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Price Performance

NYSE:PD opened at $17.58 on Tuesday. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70. The stock’s fifty day moving average is $19.55 and its two-hundred day moving average is $20.75. The company has a market capitalization of $1.64 billion, a P/E ratio of -17.41 and a beta of 1.05. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38.

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

Insider Buying and Selling

In other PagerDuty news, insider Shelley Webb sold 5,732 shares of the business’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 value of $125,989.36. Following 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 filing with the SEC, which can be accessed through the SEC website. In related news, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 235,657 shares in the company, valued at approximately $5,179,740.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Tejada sold 31,250 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total transaction of $658,437.50. Following the sale, the chief executive officer now owns 1,023,579 shares in the company, valued at $21,566,809.53. 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. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen lowered their target price on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Scotiabank dropped their price objective on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. decreased their target price on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Canaccord Genuity Group dropped their price target on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group cut their price target on PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.91.

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.