Schonfeld Strategic Advisors LLC Cuts Position in PagerDuty, Inc. (NYSE:PD)

Schonfeld Strategic Advisors LLC reduced its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,030 shares of the company's stock after selling 17,162 shares during the period. Schonfeld Strategic Advisors LLC owned about 0.08% of PagerDuty worth $1,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Venturi Wealth Management LLC bought a new stake in shares of PagerDuty in the 4th quarter worth approximately $43,000. Picton Mahoney Asset Management bought a new position in PagerDuty in the 4th quarter worth $58,000. Vinva Investment Management Ltd purchased a new stake in shares of PagerDuty in the 4th quarter worth about $139,000. PNC Financial Services Group Inc. increased its position in shares of PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after buying an additional 1,965 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in PagerDuty by 22.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company's stock worth $247,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 97.26% of the company's stock.

PagerDuty Stock Performance

PagerDuty stock traded up $0.21 during mid-day trading on Friday, reaching $15.88. 1,268,449 shares of the stock traded hands, compared to its average volume of 1,084,331. PagerDuty, Inc. has a 12-month low of $14.30 and a 12-month high of $23.12. The stock has a market capitalization of $1.45 billion, a PE ratio of -19.85 and a beta of 0.99. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The business's 50-day moving average is $16.55 and its 200-day moving average is $18.16.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The firm had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, sell-side analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has approved a stock buyback plan on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

PD has been the topic of several research reports. The Goldman Sachs Group dropped their price target on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Morgan Stanley lowered their price target 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. Canaccord Genuity Group cut their price objective on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Truist Financial lowered their target price on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a report on Friday, March 14th. Finally, Royal Bank of Canada cut their price target on PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.55.

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.