Kingstone Capital Partners Texas LLC Takes Position in PagerDuty $PD

Key Points

• Kingstone Capital Partners Texas LLC has made a notable investment in PagerDuty by acquiring 27,450 shares worth approximately $419,000 during the second quarter of the year.
• PagerDuty has seen a significant increase in institutional ownership, with 97.26% of its stock now owned by institutional investors, reflecting strong confidence from major financial players.
• Analysts have mixed opinions on PagerDuty, with recent upgrades to a "buy" rating by TD Cowen and others lowering target prices, resulting in a consensus rating of "Hold" and a target price of $18.70.

Kingstone Capital Partners Texas LLC bought a new stake in PagerDuty (NYSE:PD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,450 shares of the company's stock, valued at approximately $419,000.

A number of other institutional investors have also recently added to or reduced their stakes in PD. Headlands Technologies LLC boosted its holdings in PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock valued at $25,000 after acquiring an additional 1,319 shares during the last quarter. KBC Group NV acquired a new stake in PagerDuty in the first quarter worth about $33,000. Summit Securities Group LLC bought a new stake in shares of PagerDuty in the 1st quarter worth approximately $33,000. Teacher Retirement System of Texas acquired a new position in PagerDuty in the 1st quarter worth approximately $229,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PagerDuty during the first quarter worth $246,000. Hedge funds and other institutional investors own 97.26% of the company's stock.

PagerDuty Stock Performance

Shares of PagerDuty stock traded down $0.03 on Monday, hitting $16.30. 1,512,951 shares of the company's stock were exchanged, compared to its average volume of 2,503,167. The company has a 50-day simple moving average of $15.93 and a 200-day simple moving average of $15.97. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.39 and a current ratio of 2.39. PagerDuty has a 1 year low of $13.69 and a 1 year high of $21.98. The stock has a market capitalization of $1.52 billion, a PE ratio of -101.84, a PEG ratio of 13.23 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PD. JPMorgan Chase & Co. decreased their price target on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research note on Friday, May 30th. Wall Street Zen upgraded PagerDuty from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 31st. Canaccord Genuity Group cut their price target on shares of PagerDuty from $21.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Robert W. Baird dropped their price objective on shares of PagerDuty from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, September 4th. Finally, Zacks Research upgraded PagerDuty to a "hold" rating in a report on Friday, August 8th. Five investment 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, the company currently has an average rating of "Hold" and a consensus target price of $18.70.

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.