PagerDuty, Inc. (NYSE:PD) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP lowered its stake in PagerDuty, Inc. (NYSE:PD) by 90.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,981 shares of the company’s stock after selling 405,754 shares during the quarter. Readystate Asset Management LP’s holdings in PagerDuty were worth $1,018,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new position in PagerDuty in the third quarter valued at about $32,209,000. Fred Alger Management LLC purchased a new position in PagerDuty in the first quarter valued at about $33,686,000. Goldman Sachs Group Inc. boosted its holdings in PagerDuty by 65.4% in 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. ARK Investment Management LLC boosted its holdings in PagerDuty by 8.1% in the fourth quarter. ARK Investment Management LLC now owns 11,413,423 shares of the company’s stock valued at $264,221,000 after purchasing an additional 858,838 shares during the last quarter. Finally, Norges Bank bought a new position in PagerDuty during the 4th quarter worth approximately $22,062,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Shelley Webb sold 6,859 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the transaction, the insider now owns 253,439 shares of the company’s stock, valued at approximately $5,674,499.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PagerDuty news, CAO Mitra Rezvan sold 2,215 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total value of $47,888.30. Following the completion of the transaction, the chief accounting officer now owns 119,452 shares of the company’s stock, valued at approximately $2,582,552.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shelley Webb sold 6,859 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total value of $153,573.01. Following the completion of the transaction, the insider now directly owns 253,439 shares of the company’s stock, valued at approximately $5,674,499.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,967 shares of company stock valued at $424,587. Insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial raised PagerDuty from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $30.00 in a report on Monday, March 18th. Canaccord Genuity Group reduced their target price on PagerDuty from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Robert W. Baird dropped their price target on PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $30.00 price target on shares of PagerDuty in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

PagerDuty Stock Down 1.8 %

Shares of PD stock traded down $0.39 during mid-day trading on Thursday, hitting $20.83. 1,296,598 shares of the stock traded hands, compared to its average volume of 1,364,273. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 2.61. The company’s 50-day simple moving average is $23.06 and its 200-day simple moving average is $22.66. PagerDuty, Inc. has a twelve month low of $19.18 and a twelve month high of $35.06.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The company had revenue of $111.12 million for the quarter, compared to the consensus estimate of $110.50 million. PagerDuty had a negative return on equity of 24.65% and a negative net margin of 18.98%. Equities research analysts forecast that PagerDuty, Inc. will post -0.44 EPS for the current year.

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.