Axxcess Wealth Management LLC Buys 1,178 Shares of PagerDuty, Inc. (NYSE:PD)

Axxcess Wealth Management LLC increased its stake in shares of PagerDuty, Inc. (NYSE:PD) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,354 shares of the company’s stock after acquiring an additional 1,178 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PagerDuty were worth $240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FNY Investment Advisers LLC raised its stake in shares of PagerDuty by 100.0% in the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock valued at $46,000 after buying an additional 1,000 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of PagerDuty during the 3rd quarter valued at $80,000. a16z Perennial Management L.P. bought a new stake in shares of PagerDuty during the 4th quarter valued at $148,000. FDx Advisors Inc. bought a new stake in shares of PagerDuty during the 3rd quarter valued at $203,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in PagerDuty in the 3rd quarter worth about $209,000. 97.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PagerDuty news, CFO Howard Wilson sold 8,893 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.09, for a total value of $223,125.37. Following the completion of the sale, the chief financial officer now owns 507,672 shares in the company, valued at approximately $12,737,490.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Howard Wilson sold 8,893 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.09, for a total value of $223,125.37. Following the completion of the transaction, the chief financial officer now owns 507,672 shares of the company’s stock, valued at approximately $12,737,490.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mitra Rezvan sold 2,215 shares of the 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 directly owns 119,452 shares of the company’s stock, valued at approximately $2,582,552.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,967 shares of company stock worth $424,587. 7.60% of the stock is currently owned by company insiders.

PagerDuty Price Performance

PD opened at $19.77 on Friday. The stock has a market capitalization of $1.89 billion, a P/E ratio of -22.47 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 stock has a 50-day moving average price of $21.93 and a 200-day moving average price of $22.57. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 2.61.

PagerDuty (NYSE:PD) last issued its earnings results 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 analysts’ expectations of $110.50 million. PagerDuty had a negative net margin of 18.98% and a negative return on equity of 24.65%. Equities analysts predict that PagerDuty, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PD. Canaccord Genuity Group decreased their target price on PagerDuty from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. 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. Robert W. Baird decreased their target price on PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Finally, Truist Financial upgraded PagerDuty from a “hold” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $30.00 in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

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.