Corebridge Financial Inc. Reduces Stake in PagerDuty $PD

Corebridge Financial Inc. reduced its position in PagerDuty (NYSE:PD) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,502 shares of the company’s stock after selling 2,019 shares during the period. Corebridge Financial Inc.’s holdings in PagerDuty were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Fund Management S.A. lifted its position in PagerDuty by 33.4% during the first quarter. Capital Fund Management S.A. now owns 206,370 shares of the company’s stock valued at $3,770,000 after purchasing an additional 51,616 shares in the last quarter. Hsbc Holdings PLC lifted its position in PagerDuty by 28.9% during the first quarter. Hsbc Holdings PLC now owns 18,928 shares of the company’s stock valued at $346,000 after purchasing an additional 4,243 shares in the last quarter. Summit Securities Group LLC purchased a new position in PagerDuty during the first quarter valued at $33,000. Algert Global LLC lifted its position in PagerDuty by 512.5% during the first quarter. Algert Global LLC now owns 397,212 shares of the company’s stock valued at $7,257,000 after purchasing an additional 332,363 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in PagerDuty by 7,117.3% during the first quarter. Russell Investments Group Ltd. now owns 33,705 shares of the company’s stock valued at $616,000 after purchasing an additional 33,238 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

PagerDuty Trading Down 0.5%

Shares of PD stock opened at $16.48 on Friday. PagerDuty has a 12-month low of $13.69 and a 12-month 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 stock’s 50-day moving average price is $15.77 and its 200-day moving average price is $16.09. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -103.01, a price-to-earnings-growth ratio of 9.88 and a beta of 0.88.

Analysts Set New Price Targets

PD has been the topic of several analyst reports. Truist Financial lowered their target price on PagerDuty from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Wall Street Zen upgraded PagerDuty from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 31st. Cowen upgraded PagerDuty from a “hold” rating to a “buy” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. lowered their price objective on PagerDuty from $21.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, May 30th. Finally, Zacks Research upgraded PagerDuty to a “hold” rating in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.70.

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.