Scalar Gauge Management LLC Takes $5.99 Million Position in PagerDuty, Inc. (NYSE:PD)

Scalar Gauge Management LLC acquired a new position in PagerDuty, Inc. (NYSE:PD) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 328,200 shares of the company’s stock, valued at approximately $5,993,000. PagerDuty makes up about 2.8% of Scalar Gauge Management LLC’s portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in shares of PagerDuty by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company’s stock worth $1,691,000 after buying an additional 674 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of PagerDuty by 1.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company’s stock valued at $1,083,000 after acquiring an additional 819 shares in the last quarter. Quarry LP lifted its holdings in PagerDuty by 98.3% in the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after purchasing an additional 1,384 shares during the last quarter. Fred Alger Management LLC boosted its position in PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock worth $76,000 after purchasing an additional 1,594 shares during the period. Finally, Franklin Resources Inc. grew its holdings in PagerDuty by 5.4% during the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after purchasing an additional 1,701 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Insider Transactions at PagerDuty

In other news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the sale, the insider now owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 10,048 shares of company stock valued at $186,699. Corporate insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PD. Truist Financial reduced their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 14th. The Goldman Sachs Group lowered their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada cut their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and lowered their target price for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.73.

PagerDuty Trading Down 1.3 %

Shares of PagerDuty stock opened at $18.78 on Monday. PagerDuty, Inc. has a 52-week low of $15.49 and a 52-week high of $23.40. The firm has a market capitalization of $1.71 billion, a PE ratio of -23.47 and a beta of 1.12. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The company’s fifty day moving average price is $18.44 and its two-hundred day moving average price is $18.70.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $121.45 million for the quarter, compared to analysts’ expectations of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its board has approved a share buyback program on Thursday, March 13th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.