Trexquant Investment LP Sells 276,991 Shares of PagerDuty, Inc. (NYSE:PD)

Trexquant Investment LP cut its stake in PagerDuty, Inc. (NYSE:PD) by 72.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,608 shares of the company’s stock after selling 276,991 shares during the period. Trexquant Investment LP owned about 0.11% of PagerDuty worth $1,892,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. AMI Asset Management Corp boosted its holdings in shares of PagerDuty by 154.2% in the 4th quarter. AMI Asset Management Corp now owns 56,156 shares of the company’s stock worth $1,025,000 after purchasing an additional 34,063 shares in the last quarter. Geode Capital Management LLC lifted its position in PagerDuty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock worth $39,915,000 after buying an additional 37,147 shares during the last quarter. Franklin Resources Inc. boosted its stake in PagerDuty by 5.4% in the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock worth $614,000 after buying an additional 1,701 shares in the last quarter. Bank of New York Mellon Corp grew its position in PagerDuty by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock valued at $16,531,000 after acquiring an additional 100,207 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of PagerDuty by 285.8% during the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock worth $23,444,000 after acquiring an additional 936,257 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PD shares. Truist Financial dropped their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, March 14th. Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and cut their price objective for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. 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 cut their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, The Goldman Sachs Group cut their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.73.

PagerDuty Trading Down 3.0 %

NYSE:PD opened at $14.54 on Wednesday. The firm has a fifty day simple moving average of $18.04 and a 200-day simple moving average of $18.62. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $1.32 billion, a P/E ratio of -18.17 and a beta of 1.06. PagerDuty, Inc. has a 12 month low of $13.79 and a 12 month high of $23.40.

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

PagerDuty announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.