M&T Bank Corp Raises Stock Position in PagerDuty, Inc. (NYSE:PD)

M&T Bank Corp boosted its position in shares of PagerDuty, Inc. (NYSE:PD) by 64.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,207 shares of the company’s stock after acquiring an additional 36,220 shares during the period. M&T Bank Corp owned 0.10% of PagerDuty worth $2,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PD. FNY Investment Advisers LLC boosted its stake in PagerDuty by 100.0% in the 4th quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of PagerDuty in the 3rd quarter valued at $80,000. a16z Perennial Management L.P. purchased a new position in PagerDuty in the 4th quarter worth $148,000. FDx Advisors Inc. purchased a new position in PagerDuty in the 3rd quarter worth $203,000. Finally, Axxcess Wealth Management LLC acquired a new stake in PagerDuty during the 3rd quarter worth about $206,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Mitra Rezvan sold 2,215 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total transaction of $47,888.30. Following the completion of the transaction, the chief accounting officer now directly 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. In other PagerDuty news, CFO Howard Wilson sold 8,893 shares of PagerDuty stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.09, for a total transaction of $223,125.37. Following the transaction, the chief financial officer now owns 507,672 shares of the company’s stock, valued at $12,737,490.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mitra Rezvan sold 2,215 shares of the firm’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 transaction of $47,888.30. Following the transaction, the chief accounting officer now owns 119,452 shares in the company, valued at $2,582,552.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,967 shares of company stock worth $424,587. 7.60% of the stock is currently owned by corporate insiders.

PagerDuty Price Performance

PD opened at $19.53 on Thursday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -22.19 and a beta of 0.93. PagerDuty, Inc. has a 12-month low of $19.18 and a 12-month high of $29.97. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 2.61. The stock’s 50-day moving average price is $22.02 and its 200 day moving average price is $22.59.

PagerDuty (NYSE:PD) last released its earnings results on Thursday, March 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). PagerDuty had a negative net margin of 18.98% and a negative return on equity of 24.65%. The company had revenue of $111.12 million during the quarter, compared to analysts’ expectations of $110.50 million. As a group, sell-side analysts expect that PagerDuty, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial raised shares of PagerDuty from a “hold” rating to a “buy” rating and upped their price objective for the company from $25.00 to $30.00 in a report on Monday, March 18th. Robert W. Baird reduced their price objective on PagerDuty from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Morgan Stanley restated an “equal weight” rating and issued a $30.00 target price on shares of PagerDuty in a research note on Wednesday, January 24th. Finally, Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

PagerDuty 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.