PagerDuty (NYSE:PD) Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd has increased its stake in PagerDuty by 62.7%, now owning approximately 0.07% of its stock, worth $1,154,000.
• PagerDuty's stock received upgrades from analysts at Cowen and TD Cowen, raising its rating from "hold" to "buy" with a target price of $22.00.
• The company reported a 7.8% increase in quarterly revenue year-over-year, exceeding analyst expectations with $119.81 million in revenue.

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of PagerDuty (NYSE:PD - Free Report) by 62.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,168 shares of the company's stock after purchasing an additional 24,339 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.07% of PagerDuty worth $1,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. XTX Topco Ltd lifted its stake in PagerDuty by 10.5% during the 1st quarter. XTX Topco Ltd now owns 63,777 shares of the company's stock valued at $1,165,000 after acquiring an additional 6,063 shares during the period. Federated Hermes Inc. purchased a new position in shares of PagerDuty during the first quarter worth $314,000. Mackenzie Financial Corp lifted its position in PagerDuty by 20.6% during the first quarter. Mackenzie Financial Corp now owns 134,350 shares of the company's stock valued at $2,455,000 after purchasing an additional 22,994 shares during the period. ARK Investment Management LLC lifted its position in PagerDuty by 1.9% during the first 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 during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in PagerDuty by 22.6% during 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 during the period. Hedge funds and other institutional investors own 97.26% of the company's stock.

PagerDuty Price Performance

Shares of NYSE:PD traded down $0.63 during midday trading on Thursday, hitting $15.58. The company's stock had a trading volume of 1,781,605 shares, compared to its average volume of 2,085,097. The company has a market cap of $1.42 billion, a P/E ratio of -38.94, a price-to-earnings-growth ratio of 9.72 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 50 day simple moving average is $15.23 and its 200 day simple moving average is $16.52. PagerDuty has a 12-month low of $13.69 and a 12-month high of $21.98.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PD shares. Royal Bank Of Canada decreased their price objective on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Truist Financial decreased 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. Morgan Stanley dropped their price objective on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Cowen raised shares of PagerDuty from a "hold" rating to a "buy" rating in a report on Monday, July 28th. Finally, TD Cowen raised shares of PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Monday, July 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PagerDuty has an average rating of "Hold" and a consensus target price of $19.75.

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.