Vinva Investment Management Ltd Acquires Shares of 7,597 PagerDuty, Inc. (NYSE:PD)

Vinva Investment Management Ltd acquired a new stake in PagerDuty, Inc. (NYSE:PD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,597 shares of the company’s stock, valued at approximately $139,000.

A number of other hedge funds have also recently modified their holdings of PD. Venturi Wealth Management LLC purchased a new position in shares of PagerDuty during the fourth quarter valued at about $43,000. Quarry LP boosted its stake in PagerDuty by 98.3% during the third quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after acquiring an additional 1,384 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in PagerDuty during the fourth quarter worth about $58,000. Fred Alger Management LLC boosted its stake in 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 acquiring an additional 1,594 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in PagerDuty during the third quarter worth about $163,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Stock Up 0.1 %

Shares of PagerDuty stock opened at $18.87 on Friday. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -23.59 and a beta of 1.12. The company’s 50 day moving average is $18.34 and its 200 day moving average is $18.65. PagerDuty, Inc. has a twelve month low of $15.49 and a twelve month high of $23.40. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

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

PagerDuty announced that its Board of Directors has initiated a share buyback program on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

PD has been the topic of several research reports. Truist Financial dropped their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Canaccord Genuity Group dropped their target price on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. The Goldman Sachs Group dropped their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada dropped their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.73.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the sale, the insider now directly owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the company’s 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 sale, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,048 shares of company stock valued at $186,699. Insiders own 7.60% of the company’s stock.

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.