PagerDuty (NYSE:PD) Short Interest Update

PagerDuty (NYSE:PD) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 10,130,226 shares, an increase of 26.0% from the January 29th total of 8,041,464 shares. Based on an average trading volume of 4,699,984 shares, the days-to-cover ratio is presently 2.2 days. Currently, 12.0% of the shares of the stock are short sold. Currently, 12.0% of the shares of the stock are short sold. Based on an average trading volume of 4,699,984 shares, the days-to-cover ratio is presently 2.2 days.

Insider Activity

In related news, Director Dan Alexandru Solomon sold 266,667 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $13.35, for a total value of $3,560,004.45. Following the completion of the transaction, the director directly owned 2,389,665 shares of the company’s stock, valued at approximately $31,902,027.75. This trade represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On PagerDuty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PD. Royal Bank of Canada boosted its position in PagerDuty by 60.8% in the 1st quarter. Royal Bank of Canada now owns 96,575 shares of the company’s stock valued at $1,764,000 after buying an additional 36,517 shares during the period. AQR Capital Management LLC raised its stake in shares of PagerDuty by 110.6% during the first quarter. AQR Capital Management LLC now owns 147,127 shares of the company’s stock valued at $2,679,000 after acquiring an additional 77,251 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PagerDuty by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company’s stock valued at $943,000 after purchasing an additional 671 shares during the period. Millennium Management LLC grew its stake in PagerDuty by 55.4% in the first quarter. Millennium Management LLC now owns 1,005,111 shares of the company’s stock worth $18,363,000 after purchasing an additional 358,347 shares in the last quarter. Finally, Woodline Partners LP bought a new position in PagerDuty in the first quarter worth approximately $556,000. Institutional investors own 97.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PD. Royal Bank Of Canada restated a “sector perform” rating on shares of PagerDuty in a report on Wednesday, February 11th. Truist Financial reduced their price objective on PagerDuty from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. TD Cowen restated a “buy” rating on shares of PagerDuty in a research report on Wednesday, November 26th. Wall Street Zen upgraded PagerDuty from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Finally, Zacks Research downgraded PagerDuty from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

PagerDuty Stock Performance

Shares of PagerDuty stock opened at $7.64 on Thursday. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.23. The stock’s fifty day moving average is $9.85 and its two-hundred day moving average is $13.34. PagerDuty has a 52 week low of $6.18 and a 52 week high of $19.70. The company has a market capitalization of $701.20 million, a PE ratio of 4.78, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73.

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.