Globeflex Capital L P Invests $496,000 in PagerDuty, Inc. (NYSE:PD)

Globeflex Capital L P acquired a new stake in shares of PagerDuty, Inc. (NYSE:PD) during the fourth quarter, Holdings Channel reports. The fund acquired 27,137 shares of the company’s stock, valued at approximately $496,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management bought a new stake in PagerDuty in the fourth quarter valued at approximately $58,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of PagerDuty by 22.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company’s stock worth $247,000 after purchasing an additional 2,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of PagerDuty by 18.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 579,305 shares of the company’s stock valued at $10,578,000 after buying an additional 89,400 shares during the period. AlphaQuest LLC raised its holdings in shares of PagerDuty by 140.6% during the fourth quarter. AlphaQuest LLC now owns 109,642 shares of the company’s stock valued at $2,002,000 after acquiring an additional 64,068 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock worth $184,000 after acquiring an additional 1,965 shares during the period. Institutional investors own 97.26% of the company’s stock.

PagerDuty Stock Performance

PagerDuty stock opened at $18.41 on Friday. The company has a market cap of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. PagerDuty, Inc. has a twelve month low of $15.49 and a twelve month high of $23.85. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The company’s 50-day moving average price is $18.24 and its 200-day moving average price is $18.69.

PagerDuty (NYSE:PD) last released its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. 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 company posted $0.17 EPS. On average, equities research analysts forecast that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PD has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered their target price on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group reduced their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday. Royal Bank of Canada lowered their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Truist Financial decreased 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.73.

Insiders Place Their Bets

In related news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the sale, the insider now directly owns 199,122 shares in the company, valued at $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,048 shares of company stock valued at $186,699 over the last 90 days. Insiders own 7.60% 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.