AMI Asset Management Corp Sells 6,693 Shares of PagerDuty, Inc. (NYSE:PD)

AMI Asset Management Corp cut its stake in PagerDuty, Inc. (NYSE:PD) by 4.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 149,942 shares of the company’s stock after selling 6,693 shares during the period. AMI Asset Management Corp’s holdings in PagerDuty were worth $3,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PD. Goldman Sachs Group Inc. grew its stake in shares of 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 acquiring an additional 904,136 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of 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 acquiring an additional 858,838 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of PagerDuty by 50.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock valued at $50,011,000 after acquiring an additional 728,152 shares in the last quarter. Norges Bank acquired a new position in shares of PagerDuty in the fourth quarter valued at about $15,912,000. Finally, Vanguard Group Inc. grew its stake in shares of PagerDuty by 5.8% in the third quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock valued at $220,465,000 after acquiring an additional 536,763 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Price Performance

Shares of PD traded down $0.07 during mid-day trading on Thursday, reaching $22.07. The company had a trading volume of 484,672 shares, compared to its average volume of 1,058,808. The company’s 50 day simple moving average is $20.60 and its 200 day simple moving average is $22.39. PagerDuty, Inc. has a 1-year low of $17.92 and a 1-year high of $26.70. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -21.86 and a beta of 1.07.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $111.17 million during the quarter, compared to analyst estimates of $111.74 million. PagerDuty had a negative net margin of 21.34% and a negative return on equity of 28.38%. Analysts expect that PagerDuty, Inc. will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

PD has been the topic of several research reports. Robert W. Baird decreased their price target on shares of PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Craig Hallum upgraded shares of PagerDuty from a “hold” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $30.00 in a research note on Wednesday, June 12th. Truist Financial upgraded shares of PagerDuty from a “hold” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $30.00 in a research note on Monday, March 18th. JPMorgan Chase & Co. initiated coverage on shares of PagerDuty in a research note on Thursday, June 27th. They set a “neutral” rating and a $24.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their price objective on shares of PagerDuty from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.90.

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.