PagerDuty, Inc. (NYSE:PD) Shares Sold by Avanza Fonder AB

Avanza Fonder AB lowered its holdings in PagerDuty, Inc. (NYSE:PD) by 3.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,354 shares of the company’s stock after selling 984 shares during the quarter. Avanza Fonder AB’s holdings in PagerDuty were worth $483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PagerDuty by 1.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company’s stock worth $930,000 after acquiring an additional 586 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of PagerDuty by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company’s stock worth $1,691,000 after purchasing an additional 674 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock worth $184,000 after purchasing an additional 1,965 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of PagerDuty by 12.4% in the 4th quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company’s stock valued at $347,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of PagerDuty in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PD. The Goldman Sachs Group decreased their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Truist Financial decreased their price target on PagerDuty from $26.00 to $23.00 and set a “buy” rating for the company in a report on Friday, May 30th. TD Securities lowered their price objective on shares of PagerDuty from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price objective on shares of PagerDuty from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, May 30th. Finally, Canaccord Genuity Group cut their price objective on shares of PagerDuty from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, PagerDuty presently has a consensus rating of “Hold” and a consensus target price of $19.50.

PagerDuty Price Performance

PD opened at $14.99 on Friday. PagerDuty, Inc. has a twelve month low of $13.94 and a twelve month high of $23.12. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -18.74 and a beta of 0.88. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The company has a fifty day simple moving average of $15.61 and a 200 day simple moving average of $17.62.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $119.81 million during the quarter, compared to analyst estimates of $118.98 million. During the same quarter last year, the firm earned $0.17 EPS. PagerDuty’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.