Millennium Management LLC Purchases 185,224 Shares of PagerDuty, Inc. (NYSE:PD)

Millennium Management LLC boosted its holdings in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 40.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 646,764 shares of the company's stock after buying an additional 185,224 shares during the quarter. Millennium Management LLC owned approximately 0.72% of PagerDuty worth $11,810,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in PagerDuty during the fourth quarter valued at approximately $43,000. Picton Mahoney Asset Management bought a new stake in PagerDuty during the fourth quarter valued at approximately $58,000. Vinva Investment Management Ltd bought a new stake in PagerDuty during the fourth quarter valued at approximately $139,000. PNC Financial Services Group Inc. grew its position in PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after buying an additional 1,965 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in PagerDuty by 35.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company's stock valued at $249,000 after purchasing an additional 3,533 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PD. Morgan Stanley lowered their price target on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. TD Securities lowered their price target on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. The Goldman Sachs Group lowered their price target on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a "buy" rating to an "underperform" rating and lowered their price target for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada lowered their price target on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PagerDuty currently has a consensus rating of "Hold" and a consensus price target of $20.33.

PagerDuty Price Performance

Shares of PD stock traded down $0.02 during mid-day trading on Thursday, hitting $15.99. The company had a trading volume of 206,624 shares, compared to its average volume of 1,101,106. The stock's 50 day moving average price is $16.21 and its 200-day moving average price is $17.95. PagerDuty, Inc. has a 52-week low of $14.30 and a 52-week high of $23.12. The company has a market capitalization of $1.46 billion, a P/E ratio of -19.97 and a beta of 0.99. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty (NYSE:PD - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The company had revenue of $121.45 million for the quarter, compared to analysts' expectations of $119.53 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. PagerDuty's quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.