ARK Investment Management LLC Sells 853,071 Shares of PagerDuty, Inc. (NYSE:PD)

ARK Investment Management LLC lessened its stake in shares of PagerDuty, Inc. (NYSE:PD) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,751,224 shares of the company’s stock after selling 853,071 shares during the quarter. PagerDuty comprises 1.7% of ARK Investment Management LLC’s investment portfolio, making the stock its 19th biggest holding. ARK Investment Management LLC owned about 10.48% of PagerDuty worth $180,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in PD. RGM Capital LLC increased its stake in PagerDuty by 3.3% during the 2nd quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock valued at $103,286,000 after purchasing an additional 143,701 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of PagerDuty during the second quarter worth about $2,956,000. Cubist Systematic Strategies LLC raised its holdings in shares of PagerDuty by 115.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 217,543 shares of the company’s stock worth $4,988,000 after acquiring an additional 116,422 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in PagerDuty by 424.3% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 91,236 shares of the company’s stock valued at $2,092,000 after acquiring an additional 73,836 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in PagerDuty by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,450,388 shares of the company’s stock valued at $78,254,000 after purchasing an additional 64,359 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Insider Transactions at PagerDuty

In other news, CEO Jennifer Tejada sold 18,750 shares of the firm’s stock in a transaction on 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 directly owns 1,010,861 shares of the company’s stock, valued at $20,308,197.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PagerDuty news, CAO Mitra Rezvan sold 2,942 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total value of $53,132.52. Following the completion of the transaction, the chief accounting officer now directly owns 108,449 shares of the company’s stock, valued at $1,958,588.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.09, for a total transaction of $376,687.50. Following the completion of the transaction, the chief executive officer now directly owns 1,010,861 shares in the company, valued at approximately $20,308,197.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,938 shares of company stock worth $542,998 over the last quarter. Corporate insiders own 7.60% of the company’s stock.

PagerDuty Price Performance

PagerDuty stock opened at $20.25 on Friday. The business’s 50 day simple moving average is $18.27 and its 200 day simple moving average is $19.65. PagerDuty, Inc. has a 12 month low of $16.46 and a 12 month high of $26.70. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -22.75 and a beta of 1.07. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm had revenue of $115.94 million for the quarter, compared to analysts’ expectations of $116.52 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that PagerDuty, Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PD. Canaccord Genuity Group dropped their target price on PagerDuty from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada cut their price objective on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Scotiabank lowered their target price on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, September 4th. Craig Hallum dropped their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Robert W. Baird reduced their price objective on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, PagerDuty has an average rating of “Hold” and an average price target of $21.82.

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.