Arizona State Retirement System Raises Holdings in PagerDuty, Inc. (NYSE:PD)

Arizona State Retirement System grew its position in shares of PagerDuty, Inc. (NYSE:PDGet Rating) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,375 shares of the company’s stock after buying an additional 365 shares during the period. Arizona State Retirement System’s holdings in PagerDuty were worth $628,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. ARK Investment Management LLC lifted its holdings in PagerDuty by 2.5% during the 1st quarter. ARK Investment Management LLC now owns 10,267,541 shares of the company’s stock worth $351,047,000 after purchasing an additional 246,625 shares in the last quarter. Bares Capital Management Inc. lifted its holdings in PagerDuty by 38.7% during the 4th quarter. Bares Capital Management Inc. now owns 1,636,425 shares of the company’s stock worth $56,866,000 after purchasing an additional 456,791 shares in the last quarter. Geode Capital Management LLC lifted its holdings in PagerDuty by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 1,291,311 shares of the company’s stock worth $44,873,000 after purchasing an additional 39,857 shares in the last quarter. Jennison Associates LLC lifted its holdings in PagerDuty by 200.2% during the 4th quarter. Jennison Associates LLC now owns 1,210,891 shares of the company’s stock worth $42,078,000 after purchasing an additional 807,545 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in PagerDuty by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,180,451 shares of the company’s stock worth $41,021,000 after purchasing an additional 60,336 shares in the last quarter. Hedge funds and other institutional investors own 89.33% of the company’s stock.

Analyst Upgrades and Downgrades

PD has been the topic of several recent analyst reports. Cowen lowered their price target on PagerDuty to $40.00 in a report on Friday, May 27th. Royal Bank of Canada lowered their price target on PagerDuty from $46.00 to $41.00 in a report on Tuesday, May 31st. Morgan Stanley lowered their price target on PagerDuty from $49.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Robert W. Baird lowered their price target on PagerDuty from $47.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, June 3rd. Finally, Craig Hallum lowered their price target on PagerDuty from $45.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, June 3rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, PagerDuty presently has an average rating of “Moderate Buy” and a consensus price target of $43.35.

PagerDuty Price Performance

PD opened at $28.06 on Thursday. The stock’s 50 day simple moving average is $25.91 and its 200 day simple moving average is $29.08. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.54 and a quick ratio of 2.54. PagerDuty, Inc. has a 1 year low of $21.72 and a 1 year high of $50.33. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -20.33 and a beta of 1.09.

PagerDuty (NYSE:PDGet Rating) last posted its quarterly earnings results on Thursday, June 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06). PagerDuty had a negative return on equity of 41.92% and a negative net margin of 38.83%. The company had revenue of $85.37 million for the quarter, compared to the consensus estimate of $82.67 million. During the same quarter in the previous year, the business earned ($0.27) earnings per share. PagerDuty’s revenue was up 34.3% compared to the same quarter last year. As a group, analysts predict that PagerDuty, Inc. will post -1.25 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Howard Wilson sold 20,000 shares of PagerDuty stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $26.69, for a total value of $533,800.00. Following the sale, the chief financial officer now directly owns 451,649 shares in the company, valued at approximately $12,054,511.81. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Howard Wilson sold 20,000 shares of PagerDuty stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $26.69, for a total value of $533,800.00. Following the sale, the chief financial officer now directly owns 451,649 shares in the company, valued at approximately $12,054,511.81. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Elena Gomez sold 25,166 shares of PagerDuty stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $25.03, for a total value of $629,904.98. Following the completion of the sale, the director now owns 18,409 shares in the company, valued at $460,777.27. The disclosure for this sale can be found here. Insiders have sold a total of 161,954 shares of company stock worth $4,392,181 in the last ninety days. 8.70% of the stock is owned by insiders.

PagerDuty Company Profile

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PagerDuty, Inc operates a digital operations management platform in the United States, Japan, and internationally. Its digital operations management platform collects data digital signals from virtually any software-enabled system or device, and leverage powerful machine learning to correlate, process, and predict opportunities and issues.

See Also

Institutional Ownership by Quarter for PagerDuty (NYSE:PD)

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