AlphaQuest LLC Cuts Position in PagerDuty $PD

Key Points

• AlphaQuest LLC significantly reduced its stake in PagerDuty by 85.7%, now holding 15,706 shares valued at $287,000 after selling 93,936 shares in the 1st quarter.
• Several hedge funds have made moves in PagerDuty, with Nuveen LLC purchasing a new stake worth approximately $13 million, and Two Sigma Investments LP increasing their position by over 1,200%.
• PagerDuty reported $0.24 EPS for the last quarter, exceeding expectations, with revenue increasing by 7.8% year-over-year to $119.81 million.

AlphaQuest LLC decreased its position in PagerDuty (NYSE:PD - Free Report) by 85.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,706 shares of the company's stock after selling 93,936 shares during the quarter. AlphaQuest LLC's holdings in PagerDuty were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PD. Headlands Technologies LLC raised its holdings in shares of PagerDuty by 2,235.6% during the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock valued at $25,000 after buying an additional 1,319 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PagerDuty in the 1st quarter valued at approximately $33,000. KBC Group NV bought a new stake in PagerDuty during the 1st quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PagerDuty during the fourth quarter valued at $130,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of PagerDuty during the first quarter valued at about $229,000. Institutional investors own 97.26% of the company's stock.

PagerDuty Price Performance

Shares of PD stock traded down $0.67 on Wednesday, hitting $15.45. 1,064,308 shares of the company's stock were exchanged, compared to its average volume of 1,483,659. The company has a 50 day moving average of $15.69 and a 200 day moving average of $16.14. The stock has a market cap of $1.41 billion, a P/E ratio of -38.80, a price-to-earnings-growth ratio of 10.04 and a beta of 0.88. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.02 and a quick ratio of 2.02. PagerDuty has a 12 month low of $13.69 and a 12 month high of $21.98.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating in a research report on Monday, July 28th. Wall Street Zen upgraded PagerDuty from a "buy" rating to a "strong-buy" rating in a research report on Sunday. TD Securities reduced their price objective on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. TD Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 target price for the company in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. cut their target price on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research note on Friday, May 30th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, PagerDuty currently has a consensus rating of "Hold" and a consensus target price of $19.75.

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.