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Sumitomo Mitsui Trust Group Inc. Reduces Stake in PagerDuty (NYSE:PD)

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Sumitomo Mitsui Trust Group Inc. decreased its holdings in 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 and Exchange Commission. The institutional investor owned 3,108,241 shares of the company's stock after selling 256,324 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 3.41% of PagerDuty worth $56,788,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Northern Trust Corp raised its position in shares of PagerDuty by 4.0% during the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after purchasing an additional 35,026 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of PagerDuty by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock worth $16,531,000 after purchasing an additional 100,207 shares during the period. KLP Kapitalforvaltning AS bought a new stake in PagerDuty in the fourth quarter worth $352,000. Scalar Gauge Management LLC purchased a new position in shares of PagerDuty during the 4th quarter worth about $5,993,000. Finally, Nuveen Asset Management LLC grew its stake in shares of PagerDuty by 0.9% during the fourth quarter. Nuveen Asset Management LLC now owns 622,940 shares of the company's stock valued at $11,375,000 after buying an additional 5,466 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

PagerDuty Trading Up 1.6%

Shares of PagerDuty stock traded up $0.25 on Friday, reaching $15.97. The company had a trading volume of 1,265,761 shares, compared to its average volume of 1,128,619. 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 firm's 50 day moving average price is $15.47 and its two-hundred day moving average price is $16.99. PagerDuty has a 52-week low of $13.70 and a 52-week high of $22.19. The firm has a market cap of $1.45 billion, a PE ratio of -39.93, a PEG ratio of 9.22 and a beta of 0.89.

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

PagerDuty declared that its Board of Directors has initiated a share buyback plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

PD has been the topic of a number of recent research reports. 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 report on Friday, May 30th. The Goldman Sachs Group reduced their price objective on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. 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. Royal Bank Of Canada cut their target price on PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Finally, Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.50.

View Our Latest Report on PD

PagerDuty Profile

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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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Institutional Ownership by Quarter for PagerDuty (NYSE:PD)

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