Peregrine Capital Management LLC Cuts Stake in PagerDuty, Inc. (NYSE:PD)

Peregrine Capital Management LLC lowered its position in shares of PagerDuty, Inc. (NYSE:PD) by 98.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,495 shares of the company’s stock after selling 354,667 shares during the period. Peregrine Capital Management LLC’s holdings in PagerDuty were worth $82,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. RGM Capital LLC raised its position in PagerDuty by 1.3% during the 3rd quarter. RGM Capital LLC now owns 4,564,296 shares of the company’s stock worth $84,668,000 after buying an additional 59,902 shares during the last quarter. Geode Capital Management LLC raised its position in PagerDuty by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock worth $39,915,000 after buying an additional 37,147 shares during the last quarter. JPMorgan Chase & Co. raised its position in PagerDuty by 285.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock worth $23,444,000 after buying an additional 936,257 shares during the last quarter. Barclays PLC raised its position in PagerDuty by 24.2% during the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after buying an additional 175,733 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in PagerDuty by 7.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company’s stock worth $15,051,000 after buying an additional 55,233 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the sale, the insider now directly owns 199,122 shares in the company, valued at $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,548 shares of company stock valued at $438,199. Insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, Royal Bank of Canada upped their price target on shares of PagerDuty from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.64.

PagerDuty Price Performance

Shares of NYSE PD opened at $18.50 on Thursday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -23.12 and a beta of 1.13. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $25.10. The company’s 50-day moving average price is $18.68 and its 200 day moving average price is $18.88. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

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.