PagerDuty, Inc. (NYSE:PD) Shares Purchased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC boosted its position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 523,042 shares of the company's stock after buying an additional 34,938 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.58% of PagerDuty worth $9,551,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Barclays PLC boosted its stake in shares of 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 purchasing an additional 175,733 shares during the period. Franklin Resources Inc. raised its stake in shares of PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock worth $614,000 after acquiring an additional 1,701 shares in the last quarter. JPMorgan Chase & Co. raised its stake in PagerDuty by 285.8% in the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock valued at $23,444,000 after buying an additional 936,257 shares during the last quarter. Green Alpha Advisors LLC acquired a new position in PagerDuty in the 4th quarter worth approximately $359,000. Finally, Avanza Fonder AB purchased a new position in PagerDuty during the fourth quarter valued at approximately $499,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PD shares. Royal Bank of Canada dropped their price target on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a "buy" rating to an "underperform" rating and cut their target price for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Morgan Stanley dropped their price objective on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial decreased their target price on PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Finally, Canaccord Genuity Group reduced their price target on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $20.55.

PagerDuty Price Performance

PD traded up $0.14 on Friday, hitting $15.81. 720,644 shares of the company were exchanged, compared to its average volume of 1,078,030. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The business's fifty day moving average is $16.58 and its 200 day moving average is $18.17. PagerDuty, Inc. has a fifty-two week low of $14.30 and a fifty-two week high of $23.12. The firm has a market capitalization of $1.44 billion, a P/E ratio of -19.76 and a beta of 0.99.

PagerDuty (NYSE:PD - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The firm had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. During the same quarter in the previous year, the company posted $0.17 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its board has initiated a share buyback plan on Thursday, March 13th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management 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.