Magnetar Financial LLC Takes Position in PagerDuty $PD

Key Points

• Magnetar Financial LLC has acquired a new stake in PagerDuty, purchasing 42,817 shares valued at approximately $782,000 during the first quarter.
• PagerDuty's stock has seen a 12-month high of $21.98 and a low of $13.69, closing at $16.72.
• The company reported a 7.8% increase in revenue year-over-year for the latest quarter, totaling $119.81 million, surpassing analyst expectations.

Magnetar Financial LLC purchased a new stake in shares of PagerDuty (NYSE:PD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 42,817 shares of the company's stock, valued at approximately $782,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its stake in PagerDuty by 1.9% during the 1st quarter. ARK Investment Management LLC now owns 9,170,848 shares of the company's stock valued at $167,551,000 after purchasing an additional 174,501 shares in the last quarter. RGM Capital LLC boosted its stake in shares of PagerDuty by 12.6% during the 1st quarter. RGM Capital LLC now owns 5,649,592 shares of the company's stock valued at $103,218,000 after buying an additional 634,131 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of PagerDuty by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company's stock worth $55,817,000 after buying an additional 61,456 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of PagerDuty by 11.6% during the first quarter. Bank of New York Mellon Corp now owns 1,010,175 shares of the company's stock worth $18,456,000 after buying an additional 104,838 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of PagerDuty by 4.0% in the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company's stock worth $16,563,000 after buying an additional 35,026 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of PagerDuty to a "hold" rating in a research report on Friday, August 8th. TD Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 price objective on the stock in a research note on Monday, July 28th. Cowen raised PagerDuty from a "hold" rating to a "buy" rating in a report on Monday, July 28th. Truist Financial lowered their price target on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Wall Street Zen raised PagerDuty from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.75.

PagerDuty Stock Performance

PD stock traded down $0.52 on Wednesday, reaching $15.60. The company's stock had a trading volume of 6,008,759 shares, compared to its average volume of 1,514,318. PagerDuty has a 52 week low of $13.69 and a 52 week high of $21.98. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market capitalization of $1.42 billion, a P/E ratio of -39.00, a price-to-earnings-growth ratio of 10.04 and a beta of 0.88. The firm has a fifty day moving average of $15.71 and a two-hundred day moving average of $16.14.

PagerDuty 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.