PagerDuty, Inc. (NYSE:PD) Stock Position Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in PagerDuty, Inc. (NYSE:PD) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,175,523 shares of the company’s stock after selling 1,177,417 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.23% of PagerDuty worth $26,955,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PD. First Horizon Advisors Inc. lifted its position in shares of PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after acquiring an additional 508 shares in the last quarter. Cambridge Trust Co. purchased a new stake in PagerDuty in the 1st quarter worth approximately $68,000. Headlands Technologies LLC purchased a new stake in PagerDuty in the 2nd quarter worth approximately $114,000. Resolute Advisors LLC purchased a new stake in PagerDuty in the 4th quarter worth approximately $142,000. Finally, Neo Ivy Capital Management purchased a new stake in PagerDuty in the 4th quarter worth approximately $171,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Insider Transactions at PagerDuty

In other news, insider Shelley Webb sold 5,732 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $21.98, for a total transaction of $125,989.36. Following the transaction, the insider now owns 235,657 shares in the company, valued at approximately $5,179,740.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Howard Wilson sold 12,108 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total value of $248,092.92. Following the sale, the chief financial officer now owns 594,202 shares of the company’s stock, valued at $12,175,198.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shelley Webb sold 5,732 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $21.98, for a total transaction of $125,989.36. Following the completion of the transaction, the insider now owns 235,657 shares in the company, valued at $5,179,740.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America cut their target price on shares of PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Scotiabank cut their target price on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 4th. TD Cowen cut their target price on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Robert W. Baird cut their target price 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. Finally, Craig Hallum reduced their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $21.91.

PagerDuty Stock Performance

Shares of PD opened at $18.10 on Friday. The company has a market capitalization of $1.68 billion, a PE ratio of -17.92 and a beta of 1.05. PagerDuty, Inc. has a one year low of $16.46 and a one year high of $26.70. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13. The company’s fifty day moving average price is $19.30 and its 200 day moving average price is $20.62.

PagerDuty (NYSE:PD) last announced its earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The firm had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. During the same quarter last year, the firm posted ($0.18) EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

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.