PagerDuty, Inc. (NYSE:PD) Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its stake in PagerDuty, Inc. (NYSE:PD) by 14.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,972 shares of the company’s stock after selling 8,571 shares during the quarter. LPL Financial LLC owned approximately 0.05% of PagerDuty worth $894,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PD. Barclays PLC raised its holdings in shares of PagerDuty by 24.2% during the third quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after acquiring an additional 175,733 shares in the last quarter. Geode Capital Management LLC grew its position in PagerDuty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock worth $39,915,000 after purchasing an additional 37,147 shares during the last quarter. Franklin Resources Inc. increased its stake in PagerDuty by 5.4% during the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after acquiring an additional 1,701 shares during the period. JPMorgan Chase & Co. boosted its stake in PagerDuty by 285.8% during the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock worth $23,444,000 after buying an additional 936,257 shares in the last quarter. Finally, Green Alpha Advisors LLC acquired a new stake in PagerDuty during the fourth quarter worth $359,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on PD shares. The Goldman Sachs Group dropped their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Morgan Stanley reduced their price target on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada lowered their price objective on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Truist Financial lowered their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.55.

Insider Buying and Selling

In related news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.60% of the stock is currently owned by company insiders.

PagerDuty Price Performance

Shares of NYSE PD opened at $14.72 on Monday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The company has a market cap of $1.34 billion, a PE ratio of -18.40 and a beta of 1.06. PagerDuty, Inc. has a twelve month low of $14.40 and a twelve month high of $23.12. The business’s 50 day moving average price is $17.43 and its two-hundred day moving average price is $18.46.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has authorized a share buyback plan on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board 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.