Clearbridge Investments LLC Boosts Holdings in PagerDuty, Inc. (NYSE:PD)

Clearbridge Investments LLC grew its position in shares of PagerDuty, Inc. (NYSE:PD) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,100,271 shares of the company’s stock after purchasing an additional 6,554 shares during the period. Clearbridge Investments LLC’s holdings in PagerDuty were worth $94,921,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PD. Vestmark Advisory Solutions Inc. bought a new stake in shares of PagerDuty in the fourth quarter worth $6,778,000. Qsemble Capital Management LP bought a new stake in shares of PagerDuty in the third quarter worth $972,000. California Public Employees Retirement System boosted its holdings in PagerDuty by 3.0% in the third quarter. California Public Employees Retirement System now owns 150,906 shares of the company’s stock worth $3,394,000 after purchasing an additional 4,335 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of PagerDuty by 50.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock worth $50,011,000 after buying an additional 728,152 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of PagerDuty by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock worth $220,465,000 after buying an additional 536,763 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Stock Down 3.3 %

PagerDuty stock opened at $20.22 on Wednesday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -22.98 and a beta of 0.93. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 2.61. The company’s 50-day moving average price is $21.42 and its two-hundred day moving average price is $22.64. PagerDuty, Inc. has a 52 week low of $19.18 and a 52 week high of $29.12.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). PagerDuty had a negative net margin of 18.98% and a negative return on equity of 24.65%. The business had revenue of $111.12 million for the quarter, compared to the consensus estimate of $110.50 million. On average, analysts expect that PagerDuty, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PD. Morgan Stanley reiterated an “equal weight” rating and set a $30.00 price objective on shares of PagerDuty in a research note on Wednesday, January 24th. Canaccord Genuity Group cut their price target on PagerDuty from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Robert W. Baird lowered their price objective on PagerDuty from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Finally, Truist Financial upgraded PagerDuty from a “hold” rating to a “buy” rating and raised their target price for the company from $25.00 to $30.00 in a research note on Monday, March 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Insider Activity

In other news, insider Shelley Webb sold 6,859 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the transaction, the insider now owns 253,439 shares in the company, valued at approximately $5,674,499.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other PagerDuty news, CAO Mitra Rezvan sold 2,215 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $21.62, for a total value of $47,888.30. Following the completion of the transaction, the chief accounting officer now directly owns 119,452 shares in the company, valued at $2,582,552.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shelley Webb sold 6,859 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the transaction, the insider now owns 253,439 shares of the company’s stock, valued at $5,674,499.21. The disclosure for this sale can be found here. Insiders own 7.60% of the company’s stock.

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.