Peregrine Capital Management LLC Trims Holdings in PagerDuty, Inc. (NYSE:PD)

Peregrine Capital Management LLC trimmed its stake in PagerDuty, Inc. (NYSE:PD) by 98.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,495 shares of the company’s stock after selling 354,667 shares during the period. Peregrine Capital Management LLC’s holdings in PagerDuty were worth $82,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Venturi Wealth Management LLC acquired a new position in shares of PagerDuty in the fourth quarter valued at approximately $43,000. Quarry LP grew its holdings in shares of PagerDuty by 98.3% in the third quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after purchasing an additional 1,384 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of PagerDuty by 63.7% in the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after purchasing an additional 1,594 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of PagerDuty in the third quarter valued at approximately $163,000. Finally, Blue Trust Inc. grew its holdings in shares of PagerDuty by 33.7% in the third quarter. Blue Trust Inc. now owns 11,858 shares of the company’s stock valued at $220,000 after purchasing an additional 2,986 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PagerDuty

In related news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction 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 owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,548 shares of company stock worth $438,199. 7.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on PD. Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Finally, Royal Bank of Canada boosted their price target on shares of PagerDuty from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PagerDuty currently has a consensus rating of “Hold” and a consensus price target of $21.64.

PagerDuty Stock Down 3.0 %

Shares of NYSE:PD opened at $18.50 on Thursday. The company has a market capitalization of $1.67 billion, a PE ratio of -23.12 and a beta of 1.13. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty, Inc. has a twelve month low of $16.46 and a twelve month high of $25.10. The firm has a 50 day simple moving average of $18.68 and a 200-day simple moving average of $18.88.

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.