Picton Mahoney Asset Management Makes New $58,000 Investment in PagerDuty, Inc. (NYSE:PD)

Picton Mahoney Asset Management purchased a new position in PagerDuty, Inc. (NYSE:PD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,231 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also made changes to their positions in PD. Venturi Wealth Management LLC acquired a new stake in shares of PagerDuty during the fourth quarter worth about $43,000. Quarry LP lifted its stake in PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after acquiring an additional 1,384 shares during the period. Fred Alger Management LLC boosted its holdings in shares of PagerDuty by 63.7% in the 3rd quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after acquiring an additional 1,594 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of PagerDuty in the third quarter worth $163,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock worth $184,000 after purchasing an additional 1,965 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Stock Up 17.9 %

PD stock opened at $18.41 on Monday. PagerDuty, Inc. has a 52 week low of $15.49 and a 52 week high of $23.85. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The firm has a 50-day simple moving average of $18.24 and a 200-day simple moving average of $18.67. The stock has a market capitalization of $1.66 billion, a P/E ratio of -23.01 and a beta of 1.12.

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

PagerDuty declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 13th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to buy up to 10.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the sale, the insider now owns 199,122 shares of the company’s stock, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,048 shares of company stock worth $186,699. Corporate insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PD. Canaccord Genuity Group cut 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. Truist Financial decreased their price target on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada dropped their price objective on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group decreased their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PagerDuty presently has a consensus rating of “Hold” and a consensus target price of $20.73.

PagerDuty 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.