Trexquant Investment LP Raises Stock Holdings in PagerDuty $PD

Key Points

• Trexquant Investment LP increased its holdings in PagerDuty by 177.6% during the first quarter, owning approximately 287,573 shares valued at $5.25 million as of the latest SEC filing.
• Several institutional investors, including Price T Rowe Associates and Northern Trust Corp, also boosted their positions in PagerDuty, indicating strong interest from investment firms in the company.
• Analysts have varied ratings on PagerDuty, with a consensus rating of "Hold" and an average price target of $19.75, demonstrating mixed sentiment among market experts.

Trexquant Investment LP boosted its holdings in PagerDuty (NYSE:PD - Free Report) by 177.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 287,573 shares of the company's stock after purchasing an additional 183,965 shares during the quarter. Trexquant Investment LP owned approximately 0.32% of PagerDuty worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PD. Headlands Technologies LLC increased its stake in PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock valued at $25,000 after purchasing an additional 1,319 shares during the last quarter. KBC Group NV acquired a new position in PagerDuty in the first quarter valued at $33,000. Summit Securities Group LLC acquired a new stake in PagerDuty during the first quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PagerDuty during the fourth quarter worth about $130,000. Finally, Teacher Retirement System of Texas acquired a new stake in PagerDuty during the first quarter worth about $229,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PD. Robert W. Baird decreased their target price on PagerDuty from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday. TD Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 target price for the company in a report on Monday, July 28th. Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating in a report on Monday, July 28th. Truist Financial decreased their target price on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. decreased their target price on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.70.

PagerDuty Stock Down 0.5%

Shares of PD stock traded down $0.09 during trading hours on Friday, reaching $16.48. The company had a trading volume of 2,392,171 shares, compared to its average volume of 2,822,293. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.02 and a current ratio of 2.02. PagerDuty has a twelve month low of $13.69 and a twelve month high of $21.98. The company has a market capitalization of $1.50 billion, a P/E ratio of -103.01, a price-to-earnings-growth ratio of 9.88 and a beta of 0.88. The stock's fifty day simple moving average is $15.77 and its 200 day simple moving average is $16.09.

PagerDuty Company 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.