Sumitomo Mitsui Trust Group Inc. Sells 169,300 Shares of PagerDuty, Inc. (NYSE:PD)

Sumitomo Mitsui Trust Group Inc. cut its holdings in PagerDuty, Inc. (NYSE:PD) by 4.3% in the third quarter, Holdings Channel reports. The fund owned 3,738,803 shares of the company’s stock after selling 169,300 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PagerDuty were worth $69,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in PagerDuty by 1,537.2% during the second 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 period. First Horizon Advisors Inc. raised its position in shares of PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after acquiring an additional 508 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after purchasing an additional 1,578 shares during the last quarter. Cambridge Trust Co. bought a new stake in PagerDuty during the first quarter valued at about $68,000. Finally, Headlands Technologies LLC bought a new stake in PagerDuty during the second quarter valued at about $114,000. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Price Performance

Shares of PD opened at $19.60 on Friday. The firm has a market capitalization of $1.82 billion, a PE ratio of -22.02 and a beta of 1.07. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13. The company’s fifty day moving average price is $18.35 and its 200-day moving average price is $19.63. PagerDuty, Inc. has a 1-year low of $16.46 and a 1-year high of $26.70.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The business had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. During the same quarter in the previous year, the business earned ($0.18) EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that PagerDuty, Inc. will post -0.37 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird decreased their price target on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Canaccord Genuity Group decreased their target price on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Scotiabank lowered their target price on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. Craig Hallum reduced their price target on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada lowered their price objective on PagerDuty from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PagerDuty currently has an average rating of “Hold” and an average target price of $21.82.

Insider Buying and Selling

In related news, CAO Mitra Rezvan sold 2,942 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction of $53,132.52. Following the sale, the chief accounting officer now directly owns 108,449 shares of the company’s stock, valued at $1,958,588.94. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 18,750 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the transaction, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at $20,308,197.49. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,146 shares of company stock worth $2,110,248. 7.60% of the stock is owned by company insiders.

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.