PagerDuty (NYSE:PD) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in PagerDuty (NYSE:PD - Free Report) by 18.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 670,818 shares of the company's stock after selling 153,432 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.74% of PagerDuty worth $12,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PD. Janus Henderson Group PLC lifted its position in PagerDuty by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company's stock valued at $55,817,000 after purchasing an additional 61,456 shares during the last quarter. Barclays PLC raised its stake in shares of PagerDuty by 2.0% in the fourth quarter. Barclays PLC now owns 918,762 shares of the company's stock valued at $16,777,000 after acquiring an additional 17,642 shares during the period. Northern Trust Corp raised its stake in shares of PagerDuty by 4.0% in the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after acquiring an additional 35,026 shares during the period. Bank of New York Mellon Corp raised 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 acquiring an additional 100,207 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in shares of PagerDuty by 0.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 812,609 shares of the company's stock valued at $14,838,000 after acquiring an additional 4,244 shares during the period. 97.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PD. TD Securities decreased their price objective on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Morgan Stanley dropped 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 report on Wednesday, April 16th. Royal Bank Of Canada dropped their target price on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Truist Financial dropped their target price on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Canaccord Genuity Group dropped their target price on shares of PagerDuty from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, PagerDuty presently has a consensus rating of "Hold" and an average target price of $19.50.

PagerDuty Price Performance

Shares of NYSE PD traded down $0.28 during mid-day trading on Monday, reaching $15.71. The company's stock had a trading volume of 1,794,475 shares, compared to its average volume of 1,133,099. The stock has a 50-day moving average of $15.48 and a two-hundred day moving average of $16.92. The stock has a market capitalization of $1.43 billion, a P/E ratio of -39.28, a P/E/G ratio of 9.22 and a beta of 0.89. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.02 and a current ratio of 2.02. PagerDuty has a 1-year low of $13.70 and a 1-year high of $22.02.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. PagerDuty had a negative net margin of 7.75% and a negative return on equity of 8.73%. The firm had revenue of $119.81 million during the quarter, compared to analysts' expectations of $118.98 million. During the same period last year, the business earned $0.17 earnings per share. PagerDuty's revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors 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.