Amova Asset Management Americas Inc. Has $42.96 Million Stake in PagerDuty $PD

Key Points

• Amova Asset Management Americas cut its PagerDuty stake by 9.9% in Q3 and now owns 2,602,149 shares worth about $42.96 million, representing roughly a 2.79% position.
• Institutional ownership is very high (about 97.26%); notable moves include ARK Investment increasing its stake to 8,827,404 shares (≈$145.8M) while several other funds also adjusted holdings.
• Wall Street consensus is a Hold (average price target $16.00), while PD trades near $7.64 with a 52-week range of $6.18–$19.70 and a market cap around $701 million.

Amova Asset Management Americas Inc. reduced its holdings in PagerDuty (NYSE:PD - Free Report) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,602,149 shares of the company's stock after selling 285,212 shares during the quarter. Amova Asset Management Americas Inc. owned about 2.79% of PagerDuty worth $42,961,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. ARK Investment Management LLC grew its stake in shares of PagerDuty by 2.6% in the third quarter. ARK Investment Management LLC now owns 8,827,404 shares of the company's stock worth $145,829,000 after acquiring an additional 224,769 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in PagerDuty by 269.0% in the 3rd quarter. Picton Mahoney Asset Management now owns 48,098 shares of the company's stock valued at $795,000 after purchasing an additional 35,064 shares during the period. Victory Capital Management Inc. lifted its stake in shares of PagerDuty by 20.7% in the third quarter. Victory Capital Management Inc. now owns 118,128 shares of the company's stock valued at $1,951,000 after buying an additional 20,245 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in PagerDuty by 146.8% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 50,529 shares of the company's stock valued at $835,000 after acquiring an additional 30,059 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in PagerDuty in the 3rd quarter valued at approximately $59,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PD shares. Royal Bank Of Canada restated a "sector perform" rating on shares of PagerDuty in a research report on Wednesday, February 11th. Craig Hallum lowered shares of PagerDuty from a "buy" rating to a "hold" rating and dropped their price target for the stock from $20.00 to $15.00 in a research report on Wednesday, November 26th. Zacks Research cut PagerDuty from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of PagerDuty in a research note on Monday, December 29th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $19.00 target price on shares of PagerDuty in a report on Wednesday, November 26th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $16.00.

PagerDuty Price Performance

Shares of PD stock opened at $7.64 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.37 and a current ratio of 2.37. PagerDuty has a 52-week low of $6.18 and a 52-week high of $19.70. The firm's 50 day moving average price is $9.85 and its two-hundred day moving average price is $13.34. The stock has a market cap of $701.20 million, a PE ratio of 4.78, a PEG ratio of 1.85 and a beta of 0.73.

Insider Buying and Selling at PagerDuty

In other news, Director Dan Alexandru Solomon sold 266,667 shares of PagerDuty stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $13.35, for a total transaction of $3,560,004.45. Following the transaction, the director directly owned 2,389,665 shares of the company's stock, valued at $31,902,027.75. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.00% of the stock is currently owned by corporate insiders.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.

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