Dynamic Technology Lab Private Ltd Makes New $1.65 Million Investment in PagerDuty, Inc. (NYSE:PD)

Dynamic Technology Lab Private Ltd purchased a new position in shares of PagerDuty, Inc. (NYSE:PD) in the third quarter, HoldingsChannel reports. The fund purchased 88,676 shares of the company’s stock, valued at approximately $1,645,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of PagerDuty by 1,537.2% in the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after buying an additional 1,322 shares during the period. First Horizon Advisors Inc. lifted its holdings 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 valued at $53,000 after buying an additional 508 shares during the period. Fred Alger Management LLC lifted its holdings in shares of PagerDuty by 170.6% in the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock valued at $57,000 after buying an additional 1,578 shares during the period. Cambridge Trust Co. acquired a new position in shares of PagerDuty in the 1st quarter valued at about $68,000. Finally, Headlands Technologies LLC acquired a new position in shares of PagerDuty in the 2nd quarter valued at about $114,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Transactions at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.04, for a total value of $375,750.00. Following the completion of the transaction, the chief executive officer now owns 907,631 shares in the company, valued at $18,188,925.24. This represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Wilson sold 21,066 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.02, for a total transaction of $421,741.32. Following the sale, the chief financial officer now directly owns 545,742 shares of the company’s stock, valued at approximately $10,925,754.84. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,396 shares of company stock worth $1,733,561 over the last ninety days. 7.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Craig Hallum decreased their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada lowered their target price on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Bank of America dropped their price objective on shares of PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Scotiabank cut their target price on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.82.

PagerDuty Price Performance

Shares of PD opened at $20.65 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38. The stock’s 50 day moving average is $18.61 and its two-hundred day moving average is $19.58. The firm has a market capitalization of $1.92 billion, a PE ratio of -23.20 and a beta of 1.07. PagerDuty, Inc. has a twelve month low of $16.46 and a twelve month high of $26.70.

PagerDuty (NYSE:PD) last issued its earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $115.94 million for the quarter, compared to analyst estimates of $116.52 million. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) earnings per share. Research analysts anticipate that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

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.