Clearline Capital LP Sells 37,293 Shares of PagerDuty $PD

Key Points

• Clearline Capital LP has reduced its holdings in PagerDuty by 46.8%, selling 37,293 shares and leaving it with 42,470 shares valued at $776,000.
• Institutional investors and hedge funds hold 97.26% of PagerDuty's shares, indicating strong institutional interest.
• Analysts have recently adjusted PagerDuty's price targets, with a consensus rating of "Hold" and an average price target of $18.70.

Clearline Capital LP lowered its position in PagerDuty (NYSE:PD - Free Report) by 46.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,470 shares of the company's stock after selling 37,293 shares during the quarter. Clearline Capital LP's holdings in PagerDuty were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Petrus Trust Company LTA bought a new stake in PagerDuty in the first quarter valued at approximately $574,000. Millennium Management LLC lifted its position in PagerDuty by 55.4% in the first quarter. Millennium Management LLC now owns 1,005,111 shares of the company's stock valued at $18,363,000 after purchasing an additional 358,347 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in PagerDuty by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company's stock valued at $943,000 after purchasing an additional 671 shares during the last quarter. AQR Capital Management LLC lifted its position in PagerDuty by 110.6% in the first quarter. AQR Capital Management LLC now owns 147,127 shares of the company's stock valued at $2,679,000 after purchasing an additional 77,251 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in PagerDuty in the first quarter valued at approximately $262,000. Institutional investors own 97.26% of the company's stock.

PagerDuty Stock Down 4.1%

PD traded down $0.68 during trading on Wednesday, reaching $15.97. The stock had a trading volume of 1,814,823 shares, compared to its average volume of 2,911,271. The stock's 50 day moving average is $15.83 and its two-hundred day moving average is $16.07. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -99.78, a P/E/G ratio of 13.49 and a beta of 0.88. PagerDuty has a one year low of $13.69 and a one year high of $21.98.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PD. Robert W. Baird lowered their price objective on PagerDuty from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, September 4th. Royal Bank Of Canada decreased their target price on PagerDuty from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, September 4th. Canaccord Genuity Group decreased their target price on PagerDuty from $21.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Zacks Research upgraded PagerDuty to a "hold" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. decreased their target price on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.70.

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.