ARK Investment Management LLC Purchases 224,769 Shares of PagerDuty $PD

ARK Investment Management LLC increased its position in shares of PagerDuty (NYSE:PD) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,827,404 shares of the company’s stock after acquiring an additional 224,769 shares during the period. ARK Investment Management LLC owned approximately 9.47% of PagerDuty worth $145,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PD. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of PagerDuty by 78.3% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 323,951 shares of the company’s stock worth $5,352,000 after purchasing an additional 142,232 shares during the period. Vestmark Advisory Solutions Inc. boosted its stake in PagerDuty by 91.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 391,215 shares of the company’s stock valued at $5,978,000 after buying an additional 186,751 shares during the period. Vanguard Group Inc. grew its position in PagerDuty by 17.1% during the third quarter. Vanguard Group Inc. now owns 12,593,954 shares of the company’s stock worth $208,052,000 after buying an additional 1,840,407 shares in the last quarter. Versor Investments LP bought a new position in PagerDuty in the 2nd quarter worth about $385,000. Finally, SG Americas Securities LLC purchased a new stake in shares of PagerDuty in the 3rd quarter valued at about $4,312,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PagerDuty

In other PagerDuty news, Director Dan Alexandru Solomon sold 266,667 shares of PagerDuty stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.35, for a total value of $3,560,004.45. Following the transaction, the director directly owned 2,389,665 shares of the company’s stock, valued at $31,902,027.75. The trade was a 10.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.00% of the stock is currently owned by insiders.

PagerDuty Stock Up 3.4%

Shares of NYSE:PD opened at $7.64 on Thursday. The stock has a market capitalization of $701.20 million, a P/E ratio of 4.78, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73. The stock’s 50-day moving average price is $9.85 and its 200-day moving average price is $13.34. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.23. PagerDuty has a 12-month low of $6.18 and a 12-month high of $19.70.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial cut their price objective on PagerDuty from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PagerDuty in a research report on Monday, December 29th. Zacks Research cut shares of PagerDuty from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Canaccord Genuity Group restated a “buy” rating and set a $19.00 price objective on shares of PagerDuty in a research report on Wednesday, November 26th. Finally, Craig Hallum downgraded shares of PagerDuty from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.00 to $15.00 in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

PagerDuty Company 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. 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.