HighTower Advisors LLC Decreases Stock Holdings in PagerDuty $PD

HighTower Advisors LLC reduced its stake in PagerDuty (NYSE:PD) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,043 shares of the company’s stock after selling 1,363 shares during the period. HighTower Advisors LLC’s holdings in PagerDuty were worth $183,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Northern Trust Corp boosted its holdings in PagerDuty by 4.0% in the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company’s stock valued at $16,563,000 after purchasing an additional 35,026 shares during the last quarter. Teacher Retirement System of Texas bought a new position in PagerDuty in the first quarter worth about $229,000. Nuveen Asset Management LLC boosted its position in PagerDuty by 0.9% during the 4th quarter. Nuveen Asset Management LLC now owns 622,940 shares of the company’s stock valued at $11,375,000 after purchasing an additional 5,466 shares during the period. Envestnet Asset Management Inc. lifted its position in PagerDuty by 18.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 158,541 shares of the company’s stock valued at $2,897,000 after purchasing an additional 24,777 shares during the last quarter. Finally, KBC Group NV acquired a new stake in PagerDuty in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Trading Up 6.3%

PD stock opened at $16.57 on Friday. PagerDuty has a 1-year low of $13.69 and a 1-year high of $21.98. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.70. The business’s 50 day moving average is $15.75 and its 200-day moving average is $16.12. The firm has a market cap of $1.51 billion, a P/E ratio of -103.53, a P/E/G ratio of 9.35 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen raised shares of PagerDuty from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Monday, July 28th. Robert W. Baird reduced their target price on PagerDuty from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday. Canaccord Genuity Group lowered their target price on PagerDuty from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial cut their price objective on PagerDuty from $26.00 to $23.00 and set a “buy” rating for the company in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PagerDuty from $21.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, May 30th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.70.

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.