Stock Traders Purchase High Volume of Put Options on PagerDuty (NYSE:PD)

PagerDuty (NYSE:PD) was the recipient of some unusual options trading on Monday. Investors bought 13,715 put options on the company. This is an increase of 1,008% compared to the average volume of 1,238 put options.

Insider Activity at PagerDuty

In other news, Director Dan Alexandru Solomon sold 266,667 shares of the business’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $13.35, for a total transaction of $3,560,004.45. Following the sale, the director directly owned 2,389,665 shares in the company, valued at approximately $31,902,027.75. The trade was a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

Hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its holdings in shares of PagerDuty by 2.6% in the third quarter. Arizona State Retirement System now owns 25,911 shares of the company’s stock valued at $428,000 after acquiring an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PagerDuty by 1.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company’s stock worth $943,000 after purchasing an additional 671 shares during the period. California State Teachers Retirement System boosted its holdings in shares of PagerDuty by 1.4% in the 2nd quarter. California State Teachers Retirement System now owns 81,474 shares of the company’s stock worth $1,245,000 after buying an additional 1,129 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in PagerDuty by 252.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the company’s stock valued at $27,000 after buying an additional 1,149 shares during the period. Finally, ProShare Advisors LLC increased its holdings in PagerDuty by 11.8% during the fourth quarter. ProShare Advisors LLC now owns 16,324 shares of the company’s stock worth $214,000 after buying an additional 1,720 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Trading Down 5.0%

NYSE PD opened at $6.24 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.23. The business has a fifty day simple moving average of $10.67 and a 200 day simple moving average of $13.74. PagerDuty has a 12 month low of $6.18 and a 12 month high of $19.70. The firm has a market capitalization of $572.98 million, a P/E ratio of 3.90, a PEG ratio of 1.64 and a beta of 0.66.

PagerDuty (NYSE:PD) last posted its earnings results on Tuesday, November 25th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.09. PagerDuty had a net margin of 31.12% and a return on equity of 10.27%. The firm had revenue of $124.55 million during the quarter, compared to analyst estimates of $124.92 million. During the same quarter in the prior year, the business posted $0.26 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that PagerDuty will post -0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PD. Weiss Ratings restated a “sell (d+)” rating on shares of PagerDuty in a report on Monday, December 29th. Zacks Research downgraded shares of PagerDuty from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Royal Bank Of Canada restated a “sector perform” rating on shares of PagerDuty in a report on Wednesday, February 11th. Bank of America assumed coverage on shares of PagerDuty in a research report on Tuesday, December 2nd. They set an “underperform” rating and a $12.00 price target on the stock. Finally, Morgan Stanley set a $9.00 price objective on PagerDuty in a research report on Thursday. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, PagerDuty has an average rating of “Hold” and an average target price of $16.00.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.