Sumitomo Mitsui Trust Holdings Inc. Sells 117,285 Shares of PagerDuty, Inc. (NYSE:PD)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,365,408 shares of the company's stock after selling 117,285 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 4.70% of PagerDuty worth $101,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in PagerDuty by 10.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,521 shares of the company's stock valued at $961,000 after purchasing an additional 3,972 shares during the period. ARK Investment Management LLC lifted its position in PagerDuty by 8.1% during the 4th quarter. ARK Investment Management LLC now owns 11,413,423 shares of the company's stock valued at $264,221,000 after purchasing an additional 858,838 shares during the period. FNY Investment Advisers LLC lifted its position in PagerDuty by 100.0% during the 4th quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company's stock valued at $46,000 after purchasing an additional 1,000 shares during the period. SG Americas Securities LLC lifted its position in PagerDuty by 60.2% during the 4th quarter. SG Americas Securities LLC now owns 31,239 shares of the company's stock valued at $723,000 after purchasing an additional 11,734 shares during the period. Finally, Interchange Capital Partners LLC acquired a new position in PagerDuty during the 4th quarter valued at about $211,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PD shares. Truist Financial upgraded shares of PagerDuty from a "hold" rating to a "buy" rating and upped their target price for the company from $25.00 to $30.00 in a research report on Monday, March 18th. Canaccord Genuity Group lowered their price target on PagerDuty from $30.00 to $27.00 and set a "buy" rating for the company in a research note on Monday, March 18th. Robert W. Baird lowered their price target on PagerDuty from $25.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, March 15th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $30.00 price target on shares of PagerDuty in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

PagerDuty Stock Up 2.4 %

NYSE PD traded up $0.50 during trading hours on Wednesday, reaching $21.22. 1,373,582 shares of the company's stock were exchanged, compared to its average volume of 1,365,171. The company's 50-day moving average is $23.06 and its two-hundred day moving average is $22.66. PagerDuty, Inc. has a one year low of $19.18 and a one year high of $35.06. The company has a debt-to-equity ratio of 2.61, a quick ratio of 2.50 and a current ratio of 2.50. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -24.11 and a beta of 0.91.

PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, March 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $111.12 million for the quarter, compared to the consensus estimate of $110.50 million. On average, analysts forecast that PagerDuty, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Shelley Webb sold 6,859 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the transaction, the insider now directly owns 253,439 shares of the company's stock, valued at approximately $5,674,499.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Shelley Webb sold 6,859 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the transaction, the insider now directly owns 253,439 shares of the company's stock, valued at approximately $5,674,499.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mitra Rezvan sold 2,215 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 119,452 shares of the company's stock, valued at $2,582,552.24. The disclosure for this sale can be found here. In the last three months, insiders sold 17,967 shares of company stock valued at $424,587. 7.90% of the stock is owned by corporate insiders.

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.