PagerDuty (NYSE:PD) Trading Down 2.9% - Time to Sell?

Key Points

• PagerDuty's share price fell by 2.9% to $15.65, with a significant decrease in trading volume of 70% from its average daily volume.
• Several analysts have lowered price targets for PagerDuty, with Truist Financial adjusting theirs from $26.00 to $23.00, while Royal Bank Of Canada reduced theirs from $22.00 to $20.00.
• Institutional investors hold a substantial portion of the company, owning 97.26% of PagerDuty's stock, with notable increases in holdings from firms like Headlands Technologies LLC and Summit Securities Group LLC.

Shares of PagerDuty (NYSE:PD - Get Free Report) were down 2.9% during mid-day trading on Wednesday . The stock traded as low as $14.40 and last traded at $15.65. Approximately 439,486 shares changed hands during trading, a decline of 70% from the average daily volume of 1,478,717 shares. The stock had previously closed at $16.12.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PD shares. TD Securities decreased their price target on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Wall Street Zen upgraded shares of PagerDuty from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 31st. Truist Financial cut their price objective on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a report on Friday, May 30th. Zacks Research raised shares of PagerDuty to a "hold" rating in a report on Friday, August 8th. Finally, Robert W. Baird cut their price objective on shares of PagerDuty from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, PagerDuty has a consensus rating of "Hold" and a consensus target price of $18.70.

PagerDuty Stock Performance

The stock has a market capitalization of $1.60 billion, a P/E ratio of -107.35, a P/E/G ratio of 7.90 and a beta of 0.88. The company's fifty day simple moving average is $15.77 and its 200 day simple moving average is $16.07. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 2.18.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC increased its holdings in shares of PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock worth $25,000 after purchasing an additional 1,319 shares during the period. Summit Securities Group LLC bought a new position in shares of PagerDuty in the first quarter worth $33,000. KBC Group NV bought a new position in shares of PagerDuty in the first quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PagerDuty in the fourth quarter worth $130,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of PagerDuty in the second quarter worth $160,000. Institutional investors own 97.26% of the company's stock.

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.