Raymond James & Associates Sells 12,457 Shares of PagerDuty, Inc. (NYSE:PD)

Raymond James & Associates lessened its stake in shares of PagerDuty, Inc. (NYSE:PD) by 17.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,014 shares of the company’s stock after selling 12,457 shares during the period. Raymond James & Associates’ holdings in PagerDuty were worth $1,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FNY Investment Advisers LLC raised its stake in shares of PagerDuty by 100.0% during the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. SG Americas Securities LLC raised its stake in PagerDuty by 60.2% in the fourth quarter. SG Americas Securities LLC now owns 31,239 shares of the company’s stock worth $723,000 after buying an additional 11,734 shares in the last quarter. Interchange Capital Partners LLC bought a new position in PagerDuty in the fourth quarter worth approximately $211,000. Harbor Capital Advisors Inc. raised its stake in PagerDuty by 6.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 17,770 shares of the company’s stock worth $411,000 after buying an additional 1,020 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in PagerDuty by 5.8% in the third quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock worth $220,465,000 after buying an additional 536,763 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $30.00 price objective on shares of PagerDuty in a research note on Wednesday, January 24th. Canaccord Genuity Group reduced their price objective on shares of PagerDuty from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Robert W. Baird reduced their price objective on shares of PagerDuty from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Finally, Truist Financial raised shares of PagerDuty from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $30.00 in a research note 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

PagerDuty Stock Performance

Shares of PD stock opened at $20.61 on Friday. The business’s fifty day simple moving average is $22.90 and its 200-day simple moving average is $22.64. The company has a market cap of $1.91 billion, a PE ratio of -23.42 and a beta of 0.91. 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, Inc. has a 12-month low of $19.18 and a 12-month high of $34.61.

PagerDuty (NYSE:PD) last issued its quarterly 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). The business had revenue of $111.12 million for the quarter, compared to analyst estimates of $110.50 million. PagerDuty had a negative return on equity of 24.65% and a negative net margin of 18.98%. Analysts expect that PagerDuty, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at PagerDuty

In other news, CFO Howard Wilson sold 8,893 shares of the business’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 sale, the chief financial officer now directly owns 507,672 shares of the company’s stock, valued at $12,737,490.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Howard Wilson sold 8,893 shares of the business’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 sale, the chief financial officer now directly owns 507,672 shares of the company’s stock, valued at $12,737,490.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shelley Webb sold 6,859 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total transaction of $153,573.01. Following the sale, the insider now directly owns 253,439 shares in the company, valued at $5,674,499.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,967 shares of company stock valued at $424,587. Corporate insiders own 7.90% of the company’s stock.

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.