PagerDuty (NYSE:PD) Rating Lowered to Underperform at Bank of America

PagerDuty (NYSE:PD) was downgraded by equities researchers at Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $18.00 price objective on the stock, down from their prior price objective of $23.00. Bank of America‘s price target suggests a potential downside of 2.99% from the company’s current price.

Several other analysts have also commented on PD. Royal Bank of Canada raised their price target on shares of PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.64.

PagerDuty Stock Up 0.6 %

PagerDuty stock opened at $18.55 on Thursday. PagerDuty has a 52 week low of $16.46 and a 52 week high of $25.47. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -23.19 and a beta of 1.13. The business’s 50-day moving average price is $19.23 and its 200 day moving average price is $19.06. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

Insider Buying and Selling

In other PagerDuty news, CEO Jennifer Tejada sold 38,392 shares of PagerDuty stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.05, for a total transaction of $769,759.60. Following the sale, the chief executive officer now owns 907,631 shares of the company’s stock, valued at $18,198,001.55. The trade was a 4.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard Wilson sold 21,066 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.02, for a total transaction of $421,741.32. Following the sale, the chief financial officer now directly owns 545,742 shares of the company’s stock, valued at $10,925,754.84. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,756 shares of company stock worth $2,005,450. Insiders own 7.60% of the company’s stock.

Institutional Trading of PagerDuty

A number of hedge funds have recently bought and sold shares of the business. Quarry LP raised its holdings in shares of PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after acquiring an additional 1,322 shares during the period. Venturi Wealth Management LLC acquired a new stake in PagerDuty during the fourth quarter worth about $43,000. Fred Alger Management LLC raised its stake in PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock worth $76,000 after purchasing an additional 1,594 shares during the period. Point72 DIFC Ltd acquired a new position in PagerDuty in the 3rd quarter valued at about $163,000. Finally, nVerses Capital LLC purchased a new stake in shares of PagerDuty in the 3rd quarter valued at approximately $176,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.