Envestnet Asset Management Inc. Has $2.44 Million Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Envestnet Asset Management Inc. decreased its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,764 shares of the company’s stock after selling 10,766 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of PagerDuty worth $2,443,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew 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 during the last quarter. Raymond James Financial Inc. bought a new stake in PagerDuty during the 4th quarter worth approximately $6,574,000. Scalar Gauge Management LLC bought a new stake in PagerDuty during the 4th quarter worth approximately $5,993,000. Norges Bank acquired a new stake in PagerDuty during the 4th quarter valued at $4,914,000. Finally, Barclays PLC raised its position in PagerDuty by 24.2% in the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock valued at $16,716,000 after purchasing an additional 175,733 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PagerDuty

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

Wall Street Analysts Forecast Growth

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

PagerDuty Trading Up 0.3 %

PD opened at $15.72 on Friday. PagerDuty, Inc. has a twelve month low of $14.30 and a twelve month high of $23.12. The firm has a market cap of $1.43 billion, a PE ratio of -19.65 and a beta of 1.06. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm’s fifty day moving average is $17.03 and its two-hundred day moving average is $18.36.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping 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 firm had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same period in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

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

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.