Peregrine Capital Management LLC Reduces Position in PagerDuty, Inc. (NYSE:PD)

Peregrine Capital Management LLC lowered its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 353,655 shares of the company's stock after selling 59,739 shares during the period. Peregrine Capital Management LLC owned 0.38% of PagerDuty worth $8,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PagerDuty by 10.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,521 shares of the company's stock worth $961,000 after buying an additional 3,972 shares in the last quarter. ARK Investment Management LLC raised its position in shares of PagerDuty by 8.1% in the fourth quarter. ARK Investment Management LLC now owns 11,413,423 shares of the company's stock worth $264,221,000 after buying an additional 858,838 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of PagerDuty by 100.0% in the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company's stock worth $46,000 after buying an additional 1,000 shares in the last quarter. SG Americas Securities LLC raised its position in shares of PagerDuty by 60.2% in the fourth quarter. SG Americas Securities LLC now owns 31,239 shares of the company's stock worth $723,000 after buying an additional 11,734 shares in the last quarter. Finally, Interchange Capital Partners LLC purchased a new stake in shares of PagerDuty in the fourth quarter worth $211,000. Hedge funds and other institutional investors own 97.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, insider Shelley Webb sold 6,859 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.39, for a total value of $153,573.01. Following the sale, the insider now owns 253,439 shares in the company, valued at approximately $5,674,499.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PagerDuty news, CAO Mitra Rezvan sold 2,215 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total transaction of $47,888.30. Following the sale, the chief accounting officer now directly owns 119,452 shares in the company, valued at approximately $2,582,552.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shelley Webb sold 6,859 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total value of $153,573.01. Following the sale, the insider now owns 253,439 shares in the company, valued at $5,674,499.21. The disclosure for this sale can be found here. Insiders have sold 22,967 shares of company stock worth $555,937 in the last 90 days. Insiders own 7.90% of the company's stock.

PagerDuty Stock Down 3.7 %

Shares of NYSE:PD traded down $0.85 during trading on Wednesday, hitting $22.32. The stock had a trading volume of 967,866 shares, compared to its average volume of 1,382,527. PagerDuty, Inc. has a 12 month low of $19.18 and a 12 month high of $35.06. The company has a market capitalization of $2.07 billion, a PE ratio of -25.48 and a beta of 0.91. The firm's fifty day moving average is $23.31 and its 200 day moving average is $22.69. 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 announced its earnings results on Thursday, March 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.06). PagerDuty had a negative return on equity of 24.65% and a negative net margin of 18.98%. The firm had revenue of $111.12 million during the quarter, compared to the consensus estimate of $110.50 million. Analysts anticipate that PagerDuty, Inc. will post -0.44 EPS for the current fiscal year.

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.