Nikko Asset Management Americas Inc. Sells 256,324 Shares of PagerDuty (NYSE:PD)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in PagerDuty by 7.6%, selling 256,324 shares, and now holds approximately 3.41% of the company, valued at about $56.8 million.
• PagerDuty's recent earnings report revealed $0.24 earnings per share, exceeding estimates, with total revenue of $119.81 million, a 7.8% increase year-over-year.
• Analysts have lowered their price targets for PagerDuty, with targets ranging from $17.00 to $21.00, reflecting a mix of holding and buy ratings amid varied market perceptions.

Nikko Asset Management Americas Inc. lessened its stake in shares of PagerDuty (NYSE:PD - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,108,241 shares of the company's stock after selling 256,324 shares during the period. Nikko Asset Management Americas Inc. owned approximately 3.41% of PagerDuty worth $56,788,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PagerDuty by 1.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company's stock worth $930,000 after purchasing an additional 586 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of PagerDuty by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock worth $1,691,000 after purchasing an additional 674 shares in the last quarter. KBC Group NV bought a new stake in shares of PagerDuty in the 1st quarter worth $33,000. Cetera Investment Advisers increased its holdings in shares of PagerDuty by 22.5% in the 1st quarter. Cetera Investment Advisers now owns 15,946 shares of the company's stock worth $291,000 after purchasing an additional 2,928 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of PagerDuty by 22.6% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 16,800 shares of the company's stock worth $307,000 after purchasing an additional 3,100 shares in the last quarter. Institutional investors own 97.26% of the company's stock.

PagerDuty Price Performance

NYSE PD opened at $15.76 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of -39.39, a price-to-earnings-growth ratio of 8.82 and a beta of 0.89. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.02 and a current ratio of 2.02. The business's fifty day moving average is $15.23 and its 200 day moving average is $16.65. PagerDuty has a fifty-two week low of $13.69 and a fifty-two week high of $22.02.

PagerDuty (NYSE:PD - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $119.81 million for the quarter, compared to the consensus estimate of $118.98 million. PagerDuty had a negative return on equity of 8.73% and a negative net margin of 7.75%. PagerDuty's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Sell-side analysts predict that PagerDuty will post -0.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Securities reduced their target price on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Canaccord Genuity Group reduced their target price on PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Morgan Stanley dropped their price target on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Truist Financial dropped their price target on PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. dropped 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $19.50.

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.

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