Two Sigma Advisers LP Invests $6.73 Million in PagerDuty, Inc. (NYSE:PD)

Two Sigma Advisers LP acquired a new stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 368,800 shares of the company's stock, valued at approximately $6,734,000. Two Sigma Advisers LP owned approximately 0.41% of PagerDuty as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Two Sigma Investments LP boosted its stake in PagerDuty by 1,222.8% in the 4th quarter. Two Sigma Investments LP now owns 431,252 shares of the company's stock worth $7,875,000 after purchasing an additional 398,650 shares in the last quarter. State of Wyoming lifted its holdings in PagerDuty by 49.6% in the fourth quarter. State of Wyoming now owns 22,271 shares of the company's stock valued at $407,000 after acquiring an additional 7,385 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in PagerDuty in the fourth quarter worth approximately $130,000. ProShare Advisors LLC raised its stake in shares of PagerDuty by 45.1% in the fourth quarter. ProShare Advisors LLC now owns 25,219 shares of the company's stock worth $460,000 after buying an additional 7,835 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of PagerDuty during the 4th quarter valued at $754,000. Institutional investors own 97.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada lowered their price target on PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group decreased their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a report on Friday, March 14th. TD Securities reduced their price objective on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Finally, Bank of America downgraded shares of PagerDuty from a "buy" rating to an "underperform" rating and cut their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, PagerDuty has an average rating of "Hold" and a consensus price target of $20.33.

PagerDuty Trading Down 0.7%

PD stock traded down $0.12 during midday trading on Thursday, hitting $15.88. 263,140 shares of the company's stock were exchanged, compared to its average volume of 1,079,518. PagerDuty, Inc. has a 1-year low of $14.30 and a 1-year high of $23.12. The stock has a market capitalization of $1.45 billion, a PE ratio of -19.85 and a beta of 0.99. The business has a 50-day simple moving average of $16.21 and a two-hundred day simple moving average of $17.95. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The firm had revenue of $121.45 million during the quarter, compared to analysts' expectations of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. On average, sell-side analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has approved a share buyback program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

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.