Seven Eight Capital LP Purchases Shares of 18,384 PagerDuty, Inc. (NYSE:PD)

Seven Eight Capital LP bought a new stake in PagerDuty, Inc. (NYSE:PD) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,384 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC increased its stake in PagerDuty by 6.0% in the 2nd quarter. Hsbc Holdings PLC now owns 16,589 shares of the company’s stock valued at $380,000 after buying an additional 935 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of PagerDuty by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 123,247 shares of the company’s stock valued at $2,826,000 after acquiring an additional 542 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in PagerDuty during the second quarter worth about $240,000. Headlands Technologies LLC acquired a new position in PagerDuty during the second quarter valued at approximately $114,000. Finally, Choreo LLC bought a new position in PagerDuty in the second quarter valued at approximately $414,000. Institutional investors own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group reduced 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. Canaccord Genuity Group reduced their target price on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. TD Cowen dropped their price target on PagerDuty from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird cut their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Morgan Stanley decreased their price objective 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. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, PagerDuty has a consensus rating of “Hold” and an average price target of $21.91.

PagerDuty Price Performance

NYSE:PD opened at $18.06 on Monday. 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. The firm’s 50-day simple moving average is $19.30 and its 200 day simple moving average is $20.58. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -17.88 and a beta of 1.05.

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

Insider Activity

In related news, CEO Jennifer Tejada sold 18,750 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the transaction, the chief executive officer now owns 1,010,861 shares of the company’s stock, valued at $20,308,197.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PagerDuty news, CFO Howard Wilson sold 12,108 shares of the firm’s stock in a transaction 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 owns 594,202 shares of the company’s stock, valued at approximately $12,175,198.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the transaction, the chief executive officer now owns 1,010,861 shares in the company, valued at approximately $20,308,197.49. The disclosure for this sale can be found here. In the last three months, insiders sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is currently owned by company insiders.

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.