Northern Trust Corp Sells 52,266 Shares of PagerDuty $PD

Key Points

• Northern Trust Corp reduced its stake in PagerDuty by 5.8%, selling 52,266 shares in the first quarter, bringing their total ownership to about 854,808 shares valued at $15.6 million.
• Several institutional investors significantly increased their holdings in PagerDuty, with Russell Investments Group boosting their stake by over 7,100% during the same quarter.
• Wall Street analysts have mixed views on PagerDuty, with a consensus rating of "Hold" and an average target price of $19.75, following recent adjustments to target prices by multiple firms.

Northern Trust Corp lowered its holdings in PagerDuty (NYSE:PD - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 854,808 shares of the company's stock after selling 52,266 shares during the period. Northern Trust Corp owned about 0.94% of PagerDuty worth $15,617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PD. Headlands Technologies LLC boosted its position in PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock worth $25,000 after purchasing an additional 1,319 shares during the last quarter. KBC Group NV purchased a new position in PagerDuty in the first quarter worth $33,000. Summit Securities Group LLC purchased a new position in PagerDuty in the first quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in PagerDuty in the fourth quarter worth $130,000. Finally, Teacher Retirement System of Texas purchased a new position in PagerDuty in the first quarter worth $229,000. Hedge funds and other institutional investors own 97.26% of the company's stock.

PagerDuty Stock Performance

Shares of NYSE PD traded down $0.09 during trading on Friday, reaching $16.48. 2,392,171 shares of the stock traded hands, compared to its average volume of 2,822,393. 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 2.18, a current ratio of 2.39 and a quick ratio of 2.39. The company has a 50-day moving average of $15.77 and a 200-day moving average of $16.07. The stock has a market capitalization of $1.54 billion, a P/E ratio of -103.01, a price-to-earnings-growth ratio of 7.90 and a beta of 0.88.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PD shares. Royal Bank Of Canada cut their price objective on PagerDuty from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday. Wall Street Zen raised PagerDuty from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 31st. TD Cowen raised PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 price objective on the stock in a research report on Monday, July 28th. TD Securities dropped their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group dropped their price target on PagerDuty from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, PagerDuty currently has an average rating of "Hold" and a consensus price target 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.