Victory Capital Management Inc. Has $5.59 Million Stake in PagerDuty, Inc. (NYSE:PD)

Victory Capital Management Inc. lessened its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 32.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 241,571 shares of the company's stock after selling 118,511 shares during the period. Victory Capital Management Inc. owned about 0.26% of PagerDuty worth $5,592,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its position 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 acquiring an additional 858,838 shares during the period. Vanguard Group Inc. raised its position in PagerDuty by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company's stock valued at $220,465,000 after purchasing an additional 536,763 shares in the last quarter. RGM Capital LLC boosted its stake in shares of PagerDuty by 1.4% in the 3rd quarter. RGM Capital LLC now owns 4,265,800 shares of the company's stock valued at $95,938,000 after buying an additional 58,895 shares during the period. Clearbridge Investments LLC increased its stake in shares of PagerDuty by 5.3% during the third quarter. Clearbridge Investments LLC now owns 4,093,717 shares of the company's stock worth $92,068,000 after buying an additional 206,274 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in PagerDuty in the third quarter worth approximately $32,209,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PD has been the topic of several recent research reports. Robert W. Baird dropped 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. Morgan Stanley restated an "equal weight" rating and set a $30.00 price target on shares of PagerDuty in a research note on Wednesday, January 24th. Truist Financial upgraded shares of PagerDuty from a "hold" rating to a "buy" rating and lifted their price objective for the company from $25.00 to $30.00 in a research report on Monday, March 18th. Finally, Canaccord Genuity Group cut their price objective on shares of PagerDuty from $30.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PagerDuty has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

PagerDuty Stock Up 2.9 %

Shares of PD stock traded up $0.60 during trading hours on Wednesday, reaching $21.29. The company had a trading volume of 1,169,164 shares, compared to its average volume of 1,288,797. The stock's fifty day simple moving average is $21.71 and its 200 day simple moving average is $22.62. The company has a market capitalization of $2.04 billion, a P/E ratio of -23.51 and a beta of 0.93. The company has a debt-to-equity ratio of 2.61, a quick ratio of 2.50 and a current ratio of 2.50. PagerDuty, Inc. has a twelve month low of $19.18 and a twelve month high of $29.74.

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

Insider Buying and Selling at PagerDuty

In other news, insider Shelley Webb sold 6,859 shares of the business'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 completion of the sale, the insider now directly owns 253,439 shares in the company, 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 PagerDuty news, insider Shelley Webb sold 6,859 shares of the firm's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.39, for a total value of $153,573.01. Following the transaction, the insider now owns 253,439 shares of the company's stock, valued at $5,674,499.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mitra Rezvan sold 2,215 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $21.62, for a total value 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. 7.60% of the stock is currently owned by insiders.

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.