PagerDuty, Inc. (NYSE:PD) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP boosted its holdings in PagerDuty, Inc. (NYSE:PD - Free Report) by 1,222.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 431,252 shares of the company's stock after buying an additional 398,650 shares during the quarter. Two Sigma Investments LP owned approximately 0.48% of PagerDuty worth $7,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PagerDuty by 1.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company's stock valued at $930,000 after acquiring an additional 586 shares during the last quarter. Alliancebernstein L.P. increased its stake in PagerDuty by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock valued at $1,691,000 after purchasing an additional 674 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock worth $184,000 after purchasing an additional 1,965 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of PagerDuty by 12.4% in the 4th quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company's stock valued at $347,000 after buying an additional 2,100 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of PagerDuty in the 4th quarter valued at $43,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Price Performance

NYSE PD traded down $1.65 during mid-day trading on Friday, hitting $14.45. The stock had a trading volume of 1,427,024 shares, compared to its average volume of 1,088,200. The company has a 50 day simple moving average of $16.14 and a 200 day simple moving average of $17.92. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -17.89 and a beta of 0.99. PagerDuty, Inc. has a 52-week low of $13.98 and a 52-week high of $23.12. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $119.81 million for the quarter, compared to analyst estimates of $118.98 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. PagerDuty's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities analysts forecast that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on PD shares. Canaccord Genuity Group cut their price target on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group cut their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. decreased their price target on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a research note on Friday. Bank of America lowered shares of PagerDuty from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, TD Securities lowered their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.92.

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.