Bridgefront Capital LLC Takes $453,000 Position in PagerDuty, Inc. (NYSE:PD)

Bridgefront Capital LLC purchased a new stake in PagerDuty, Inc. (NYSE:PD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,835 shares of the company's stock, valued at approximately $453,000.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in PagerDuty in the 4th quarter valued at about $43,000. Picton Mahoney Asset Management acquired a new stake in shares of PagerDuty during the fourth quarter worth $58,000. Vinva Investment Management Ltd purchased a new stake in shares of PagerDuty in the fourth quarter valued at $139,000. PNC Financial Services Group Inc. increased its stake in PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after purchasing an additional 1,965 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in PagerDuty by 22.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company's stock worth $247,000 after buying an additional 2,500 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PD. Morgan Stanley lowered their price target on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Truist Financial dropped 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 decreased their price target on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Canaccord Genuity Group cut their target price on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Bank of America downgraded PagerDuty from a "buy" rating to an "underperform" rating and lowered their price target for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. Two equities research 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's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $20.55.

PagerDuty Stock Up 3.2%

NYSE:PD traded up $0.51 during mid-day trading on Monday, hitting $16.42. The company had a trading volume of 330,643 shares, compared to its average volume of 1,081,457. The business has a fifty day simple moving average of $16.55 and a 200-day simple moving average of $18.16. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -20.56 and a beta of 0.99. PagerDuty, Inc. has a 1 year low of $14.30 and a 1 year high of $23.12. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $121.45 million for 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 revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $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 has approved a stock buyback program on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is 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.