Clearline Capital LP Has $1.46 Million Holdings in PagerDuty, Inc. (NYSE:PD)

Clearline Capital LP decreased its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,763 shares of the company's stock after selling 19,954 shares during the quarter. Clearline Capital LP owned approximately 0.09% of PagerDuty worth $1,456,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PD. JPMorgan Chase & Co. increased its stake in shares of PagerDuty by 285.8% in the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock worth $23,444,000 after purchasing an additional 936,257 shares during the period. Barclays PLC raised its stake in PagerDuty by 2.0% during the 4th quarter. Barclays PLC now owns 918,762 shares of the company's stock valued at $16,777,000 after purchasing an additional 17,642 shares during the last quarter. Northern Trust Corp increased its holdings in shares of PagerDuty by 4.0% during the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock worth $16,563,000 after purchasing an additional 35,026 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of PagerDuty by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock valued at $16,531,000 after buying an additional 100,207 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of PagerDuty by 7.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company's stock valued at $15,051,000 after purchasing an additional 55,233 shares during the period. 97.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

PagerDuty Trading Up 1.1%

NYSE:PD traded up $0.19 on Tuesday, reaching $16.90. The company's stock had a trading volume of 308,946 shares, compared to its average volume of 1,081,824. The firm has a market cap of $1.54 billion, a PE ratio of -21.12 and a beta of 0.99. 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 50-day moving average price is $16.53 and its two-hundred day moving average price is $18.15. PagerDuty, Inc. has a 1-year low of $14.30 and a 1-year high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last announced its 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 the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. Equities research analysts anticipate 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 plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

About PagerDuty

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.