Cherry Creek Investment Advisors Inc. Makes New $238,000 Investment in PagerDuty, Inc. (NYSE:PD)

Cherry Creek Investment Advisors Inc. acquired a new position in shares of PagerDuty, Inc. (NYSE:PD) during the second quarter, HoldingsChannel reports. The firm acquired 5,600 shares of the company’s stock, valued at approximately $238,000.

Several other large investors also recently modified their holdings of PD. The PNC Financial Services Group Inc. raised its holdings in shares of PagerDuty by 85.6% during the first quarter. The PNC Financial Services Group Inc. now owns 620 shares of the company’s stock worth $26,000 after acquiring an additional 286 shares during the period. Bessemer Group Inc. raised its holdings in shares of PagerDuty by 211.9% during the first quarter. Bessemer Group Inc. now owns 736 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of PagerDuty by 63.0% during the second quarter. First Horizon Advisors Inc. now owns 735 shares of the company’s stock worth $30,000 after acquiring an additional 284 shares during the period. Advisory Services Network LLC acquired a new stake in shares of PagerDuty during the second quarter worth $38,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of PagerDuty by 627.3% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,491 shares of the company’s stock worth $59,000 after acquiring an additional 1,286 shares during the period. Institutional investors and hedge funds own 96.21% of the company’s stock.

In other news, CRO Dave Justice sold 1,362 shares of the firm’s stock in a transaction dated Tuesday, September 28th. The shares were sold at an average price of $43.31, for a total transaction of $58,988.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Tejada sold 68,181 shares of the firm’s stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $42.43, for a total transaction of $2,892,919.83. The disclosure for this sale can be found here. In the last three months, insiders sold 229,806 shares of company stock valued at $9,736,006. Insiders own 9.90% of the company’s stock.

Shares of PD traded up $1.39 during midday trading on Thursday, reaching $42.64. The stock had a trading volume of 6,292 shares, compared to its average volume of 1,356,829. The firm has a 50 day simple moving average of $42.70 and a 200-day simple moving average of $41.36. PagerDuty, Inc. has a one year low of $25.90 and a one year high of $58.36. The firm has a market cap of $3.62 billion, a PE ratio of -35.87 and a beta of 1.30. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.98.

PagerDuty (NYSE:PD) last announced its quarterly earnings data on Wednesday, September 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. PagerDuty had a negative net margin of 38.90% and a negative return on equity of 27.60%. The company had revenue of $67.54 million during the quarter, compared to the consensus estimate of $65.55 million. During the same quarter last year, the firm posted ($0.04) EPS. The company’s quarterly revenue was up 33.2% on a year-over-year basis. As a group, research analysts forecast that PagerDuty, Inc. will post -1.08 EPS for the current fiscal year.

PD has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of PagerDuty from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, September 3rd. Truist raised their target price on shares of PagerDuty from $35.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, September 3rd. Zacks Investment Research downgraded shares of PagerDuty from a “hold” rating to a “sell” rating in a research report on Thursday, September 9th. JPMorgan Chase & Co. raised their target price on shares of PagerDuty from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, September 3rd. Finally, Royal Bank of Canada raised their target price on shares of PagerDuty from $50.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, September 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.85.

About PagerDuty

PagerDuty, Inc operates a digital operations management platform. It provides incident management solution that integrates with information technology Ops and DevOps monitoring stacks to improve operational reliability and agility. The firm collect machine generated data from virtually any software-enabled system or device, combine it with human response data, correlating and interpreting this data to understand issues and opportunities that need to be addressed in real-time.

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Institutional Ownership by Quarter for PagerDuty (NYSE:PD)

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