Skandinaviska Enskilda Banken AB publ Grows Stock Position in PagerDuty, Inc. (NYSE:PD)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 22.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,700 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in PagerDuty were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PD. JPMorgan Chase & Co. increased its position in shares of PagerDuty by 285.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock valued at $23,444,000 after purchasing an additional 936,257 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of PagerDuty during the 4th quarter valued at about $6,574,000. Loomis Sayles & Co. L P increased its position in shares of PagerDuty by 33.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company’s stock valued at $14,995,000 after purchasing an additional 202,382 shares during the last quarter. Barclays PLC increased its position in shares of PagerDuty by 24.2% during the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock valued at $16,716,000 after purchasing an additional 175,733 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of PagerDuty by 297.0% during the 3rd quarter. Edgestream Partners L.P. now owns 219,294 shares of the company’s stock valued at $4,068,000 after purchasing an additional 164,061 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PD shares. Truist Financial reduced their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group reduced their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Royal Bank of Canada reduced their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a report on Wednesday, December 11th. Finally, Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Two equities research 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, PagerDuty presently has a consensus rating of “Hold” and a consensus price target of $20.73.

Insider Activity

In related news, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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 approximately $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 ninety days, insiders sold 10,048 shares of company stock worth $186,699. 7.60% of the stock is currently owned by insiders.

PagerDuty Trading Up 2.9 %

PD stock opened at $18.58 on Wednesday. PagerDuty, Inc. has a 1-year low of $15.49 and a 1-year high of $23.85. 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 has a market capitalization of $1.67 billion, a price-to-earnings ratio of -23.22 and a beta of 1.12. The business has a 50 day simple moving average of $18.27 and a two-hundred day simple moving average of $18.65.

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

PagerDuty announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership 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.