Fred Alger Management LLC Boosts Stock Position in PagerDuty, Inc. (NYSE:PD)

Fred Alger Management LLC increased its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 63.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,097 shares of the company’s stock after acquiring an additional 1,594 shares during the period. Fred Alger Management LLC’s holdings in PagerDuty were worth $76,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of PagerDuty by 6,298.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 55,410 shares of the company’s stock valued at $1,270,000 after acquiring an additional 54,544 shares during the last quarter. Jackson Square Capital LLC purchased a new stake in shares of PagerDuty during the third quarter worth approximately $665,000. Clearline Capital LP acquired a new position in PagerDuty in the 2nd quarter valued at $1,323,000. Natixis Advisors LLC lifted its holdings in PagerDuty by 172.8% in the 2nd quarter. Natixis Advisors LLC now owns 39,733 shares of the company’s stock valued at $911,000 after purchasing an additional 25,170 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of PagerDuty by 11.7% in the third quarter. Glenmede Trust Co. NA now owns 721,633 shares of the company’s stock valued at $13,386,000 after buying an additional 75,771 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Analysts Set New Price Targets

PD has been the subject of several research reports. Robert W. Baird dropped their price objective on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Canaccord Genuity Group cut their price target on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. The Goldman Sachs Group lowered their price objective on PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Scotiabank cut their target price on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their price target on PagerDuty from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, PagerDuty currently has an average rating of “Hold” and an average target price of $22.00.

Insider Transactions at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 6,246 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total transaction of $113,177.52. Following the sale, the insider now directly owns 216,572 shares in the company, valued at $3,924,284.64. This represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Tejada sold 18,750 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $20.04, for a total transaction of $375,750.00. Following the completion of the transaction, the chief executive officer now owns 907,631 shares of the company’s stock, valued at approximately $18,188,925.24. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,396 shares of company stock worth $1,733,561 over the last ninety days. Company insiders own 7.60% of the company’s stock.

PagerDuty Stock Up 1.1 %

Shares of PD opened at $21.24 on Monday. The company’s 50-day moving average price is $18.87 and its 200 day moving average price is $19.59. PagerDuty, Inc. has a 12-month low of $16.46 and a 12-month high of $26.70. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38. The firm has a market cap of $1.98 billion, a P/E ratio of -26.55 and a beta of 1.07.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 20.13%. The firm had revenue of $115.94 million for the quarter, compared to analyst estimates of $116.52 million. During the same period in the prior year, the business posted ($0.18) EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

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.