Ameriprise Financial Inc. Cuts Stake in PagerDuty, Inc. (NYSE:PD)

Ameriprise Financial Inc. decreased its position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 83.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,764 shares of the company's stock after selling 78,075 shares during the quarter. Ameriprise Financial Inc.'s holdings in PagerDuty were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. 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 worth $15,051,000 after acquiring an additional 55,233 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of PagerDuty in the fourth quarter worth $43,000. Handelsbanken Fonder AB lifted its position in shares of PagerDuty by 12.4% in the fourth quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company's stock worth $347,000 after purchasing an additional 2,100 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 worth $16,531,000 after purchasing an additional 100,207 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of PagerDuty by 17.5% in the fourth quarter. M&T Bank Corp now owns 60,985 shares of the company's stock worth $1,113,000 after purchasing an additional 9,085 shares in the last quarter. Institutional investors own 97.26% of the company's stock.

PagerDuty Price Performance

NYSE:PD traded down $0.29 during mid-day trading on Monday, hitting $16.05. 1,437,363 shares of the stock traded hands, compared to its average volume of 1,100,342. The business's 50-day moving average price is $15.64 and its 200 day moving average price is $17.69. The company has a market cap of $1.46 billion, a PE ratio of -20.06 and a beta of 0.88. PagerDuty, Inc. has a 12-month low of $13.94 and a 12-month high of $23.12. The company has a quick ratio of 1.97, a current 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, May 29th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business had revenue of $119.81 million during the quarter, compared to analysts' expectations of $118.98 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business's quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its board has approved a share buyback program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on PD. Truist Financial cut their target price on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, May 30th. The Goldman Sachs Group dropped their price objective on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Morgan Stanley reduced their target price on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their target price on PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Finally, TD Securities dropped their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $19.50.

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.