PagerDuty (NYSE:PD) Shares Gap Down After Insider Selling

PagerDuty, Inc. (NYSE:PD) shares gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $19.38, but opened at $18.70. PagerDuty shares last traded at $18.51, with a volume of 172,040 shares trading hands.

Specifically, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PD. JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and lowered their target price for the company from $23.00 to $18.00 in a report on Thursday. Finally, Royal Bank of Canada boosted their price target on shares of PagerDuty from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.64.

PagerDuty Trading Up 0.6 %

The stock’s 50-day simple moving average is $19.23 and its 200 day simple moving average is $19.06. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

Institutional Trading of PagerDuty

A number of hedge funds and other institutional investors have recently bought and sold shares of PD. Quarry LP lifted its position in shares of PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after buying an additional 1,322 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in PagerDuty in the fourth quarter valued at $43,000. Fred Alger Management LLC grew its holdings in shares of PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock worth $76,000 after purchasing an additional 1,594 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of PagerDuty during the third quarter worth about $163,000. Finally, nVerses Capital LLC purchased a new stake in shares of PagerDuty in the 3rd quarter valued at about $176,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.