Readystate Asset Management LP Sells 405,754 Shares of PagerDuty, Inc. (NYSE:PD)

Readystate Asset Management LP lowered its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 90.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,981 shares of the company’s stock after selling 405,754 shares during the period. Readystate Asset Management LP’s holdings in PagerDuty were worth $1,018,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in PD. JPMorgan Chase & Co. boosted its stake in shares of PagerDuty by 102.5% during the 1st quarter. JPMorgan Chase & Co. now owns 263,244 shares of the company’s stock valued at $9,000,000 after purchasing an additional 133,253 shares in the last quarter. Raymond James & Associates boosted its stake in shares of PagerDuty by 18.7% during the 1st quarter. Raymond James & Associates now owns 48,652 shares of the company’s stock valued at $1,663,000 after purchasing an additional 7,659 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of PagerDuty by 270.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,572 shares of the company’s stock valued at $53,000 after purchasing an additional 1,148 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of PagerDuty by 53.8% during the 1st quarter. MetLife Investment Management LLC now owns 44,055 shares of the company’s stock valued at $1,506,000 after purchasing an additional 15,413 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in PagerDuty by 17.3% during the 1st quarter. Rhumbline Advisers now owns 104,689 shares of the company’s stock valued at $3,579,000 after acquiring an additional 15,422 shares during the period. Institutional investors own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

PD has been the subject of a number of recent research reports. Robert W. Baird lowered their price target on shares of PagerDuty from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Morgan Stanley reissued an “equal weight” rating and set a $30.00 price target on shares of PagerDuty in a research report on Wednesday, January 24th. Canaccord Genuity Group lowered their price target 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. Finally, Truist Financial raised shares of PagerDuty from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $30.00 in a research report on Monday, March 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, PagerDuty currently has an average rating of “Moderate Buy” and an average target price of $27.25.

Insiders Place Their Bets

In other PagerDuty news, insider Shelley Webb sold 6,859 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total value of $153,573.01. Following the completion of the transaction, the insider now directly owns 253,439 shares in the company, valued at $5,674,499.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PagerDuty news, insider Shelley Webb sold 6,859 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total value of $153,573.01. Following the completion of the transaction, the insider now directly owns 253,439 shares in the company, valued at $5,674,499.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Howard Wilson sold 8,893 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.09, for a total transaction of $223,125.37. Following the transaction, the chief financial officer now directly owns 507,672 shares of the company’s stock, valued at $12,737,490.48. The disclosure for this sale can be found here. Insiders sold a total of 17,967 shares of company stock worth $424,587 over the last three months. 7.90% of the stock is currently owned by company insiders.

PagerDuty Stock Down 1.8 %

NYSE PD traded down $0.39 during trading hours on Thursday, hitting $20.83. 1,296,598 shares of the company’s stock traded hands, compared to its average volume of 1,364,273. The business’s fifty day moving average price is $23.06 and its two-hundred day moving average price is $22.66. The company has a debt-to-equity ratio of 2.61, a quick ratio of 2.50 and a current ratio of 2.50. PagerDuty, Inc. has a 52 week low of $19.18 and a 52 week high of $35.06.

PagerDuty (NYSE:PD) last announced its earnings results on Thursday, March 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The business had revenue of $111.12 million for the quarter, compared to the consensus estimate of $110.50 million. PagerDuty had a negative net margin of 18.98% and a negative return on equity of 24.65%. On average, research analysts expect that PagerDuty, Inc. will post -0.44 earnings per share for the current fiscal year.

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.