Insider Selling: PagerDuty, Inc. (NYSE:PD) CAO Sells 2,215 Shares of Stock

PagerDuty, Inc. (NYSE:PD - Get Free Report) CAO Mitra Rezvan sold 2,215 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total value of $47,888.30. Following the sale, the chief accounting officer now directly owns 119,452 shares of the company's stock, valued at $2,582,552.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

PagerDuty Price Performance

NYSE PD traded down $0.29 during mid-day trading on Thursday, hitting $22.11. The stock had a trading volume of 1,319,074 shares, compared to its average volume of 1,403,337. PagerDuty, Inc. has a 52-week low of $19.18 and a 52-week high of $35.06. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -25.12 and a beta of 0.91. The company has a 50 day simple moving average of $23.40 and a 200 day simple moving average of $22.70. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 2.61.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The firm had revenue of $111.12 million during the quarter, compared to analysts' expectations of $110.50 million. PagerDuty had a negative net margin of 18.98% and a negative return on equity of 24.65%. Equities analysts forecast that PagerDuty, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On PagerDuty

Large investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its holdings in shares of PagerDuty by 8.1% during the fourth quarter. ARK Investment Management LLC now owns 11,413,423 shares of the company's stock worth $264,221,000 after purchasing an additional 858,838 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of PagerDuty by 5.8% during the third quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company's stock worth $220,465,000 after purchasing an additional 536,763 shares during the last quarter. RGM Capital LLC boosted its holdings in shares of PagerDuty by 1.4% during the third quarter. RGM Capital LLC now owns 4,265,800 shares of the company's stock worth $95,938,000 after purchasing an additional 58,895 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in PagerDuty by 5.3% in the third quarter. Clearbridge Investments LLC now owns 4,093,717 shares of the company's stock valued at $92,068,000 after acquiring an additional 206,274 shares during the last quarter. Finally, FIL Ltd boosted its holdings in PagerDuty by 0.6% in the fourth quarter. FIL Ltd now owns 3,604,168 shares of the company's stock valued at $83,436,000 after acquiring an additional 20,061 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on PD shares. Canaccord Genuity Group decreased their price objective on PagerDuty from $30.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, March 18th. Truist Financial raised PagerDuty from a "hold" rating to a "buy" rating and increased their price objective for the stock from $25.00 to $30.00 in a research report on Monday, March 18th. Bank of America assumed coverage on PagerDuty in a research report on Thursday, December 14th. They set a "buy" rating and a $30.00 price objective for the company. Morgan Stanley reissued an "equal weight" rating and set a $30.00 target price on shares of PagerDuty in a research note on Wednesday, January 24th. Finally, Robert W. Baird cut their target price on PagerDuty from $25.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, March 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.25.

PagerDuty Company Profile

PagerDuty, Inc engages in the operation of a digital operations management platform in the United States, EMEA, the Asia Pacific, and Japan. The company's digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage powerful machine learning to correlate, process, and predict opportunities and issues.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.