Russell Investments Group Ltd. Raises Stock Holdings in PagerDuty $PD

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in PagerDuty by 7,117.3%, now owning 33,705 shares valued at approximately $616,000.
• PagerDuty reported earnings of $0.24 EPS for the last quarter, surpassing estimates and showing a 7.8% year-over-year revenue growth with total revenues of $119.81 million.
• As of now, PagerDuty has a consensus analyst rating of "Hold", with targets ranging from $18.00 to $23.00, reflecting mixed sentiments among research analysts.

Russell Investments Group Ltd. grew its position in shares of PagerDuty (NYSE:PD - Free Report) by 7,117.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,705 shares of the company's stock after purchasing an additional 33,238 shares during the period. Russell Investments Group Ltd.'s holdings in PagerDuty were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC grew its holdings in PagerDuty by 1.9% during the 1st quarter. ARK Investment Management LLC now owns 9,170,848 shares of the company's stock valued at $167,551,000 after buying an additional 174,501 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of PagerDuty by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company's stock valued at $55,817,000 after purchasing an additional 61,456 shares in the last quarter. Bank of New York Mellon Corp increased its position in PagerDuty by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 1,010,175 shares of the company's stock worth $18,456,000 after purchasing an additional 104,838 shares during the last quarter. Northern Trust Corp raised its stake in PagerDuty by 4.0% during the fourth 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 in the last quarter. Finally, Deutsche Bank AG lifted its position in PagerDuty by 5.8% during the first quarter. Deutsche Bank AG now owns 845,340 shares of the company's stock valued at $15,444,000 after purchasing an additional 46,289 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

PagerDuty Trading Down 4.6%

PagerDuty stock traded down $0.74 during mid-day trading on Wednesday, hitting $15.38. The company's stock had a trading volume of 3,322,458 shares, compared to its average volume of 1,497,295. 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 company has a 50 day moving average of $15.69 and a 200-day moving average of $16.14. PagerDuty has a one year low of $13.69 and a one year high of $21.98. The stock has a market cap of $1.40 billion, a PE ratio of -38.50, a P/E/G ratio of 10.04 and a beta of 0.88.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PD shares. Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating in a report on Monday, July 28th. Truist Financial reduced their price objective on PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. TD Securities decreased their price objective on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lowered their price objective on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a research note on Friday, May 30th. Finally, Canaccord Genuity Group cut their target price on PagerDuty from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.