Marshall Wace LLP Has $13.18 Million Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Marshall Wace LLP grew its holdings in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 989.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 721,953 shares of the company's stock after purchasing an additional 655,655 shares during the period. Marshall Wace LLP owned approximately 0.80% of PagerDuty worth $13,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Venturi Wealth Management LLC acquired a new stake in shares of PagerDuty during the fourth quarter worth $43,000. Picton Mahoney Asset Management acquired a new stake in shares of PagerDuty during the fourth quarter valued at approximately $58,000. Vinva Investment Management Ltd purchased a new stake in shares of PagerDuty in the 4th quarter valued at approximately $139,000. PNC Financial Services Group Inc. grew its position in PagerDuty by 24.3% during the 4th 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. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of PagerDuty by 22.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company's stock valued at $247,000 after purchasing an additional 2,500 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Stock Up 0.3 %

Shares of PD stock traded up $0.04 on Friday, hitting $15.72. The company's stock had a trading volume of 1,281,172 shares, compared to its average volume of 1,073,693. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -19.65 and a beta of 1.06. PagerDuty, Inc. has a fifty-two week low of $14.30 and a fifty-two week high of $23.12. The firm's fifty day moving average price is $17.03 and its 200-day moving average price is $18.36. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. During the same quarter in the prior year, the company posted $0.17 EPS. The firm's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

PD has been the topic of several recent analyst reports. Bank of America lowered PagerDuty from a "buy" rating to an "underperform" rating and dropped their price target for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. The Goldman Sachs Group decreased their price target on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Canaccord Genuity Group dropped their price objective on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Morgan Stanley cut their target price on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their price target on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.55.

Insider Buying and Selling

In other news, CEO Jennifer Tejada sold 1,569 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.60% of the stock is owned by insiders.

PagerDuty 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.