PagerDuty (NYSE:PD) Shares Down 4.7% – Time to Sell?

PagerDuty (NYSE:PD)’s share price was down 4.7% on Tuesday . The stock traded as low as $7.42 and last traded at $7.5080. Approximately 472,748 shares were traded during trading, a decline of 85% from the average daily volume of 3,241,558 shares. The stock had previously closed at $7.88.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial reduced their price target on PagerDuty from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. TD Cowen reiterated a “buy” rating on shares of PagerDuty in a research note on Wednesday, November 26th. Bank of America assumed coverage on PagerDuty in a report on Tuesday, December 2nd. They set an “underperform” rating and a $12.00 target price on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of PagerDuty in a report on Wednesday, February 11th. Finally, Zacks Research cut shares of PagerDuty from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, PagerDuty currently has an average rating of “Hold” and a consensus price target of $16.00.

PagerDuty Stock Performance

The company has a fifty day moving average of $9.53 and a two-hundred day moving average of $13.15. The firm has a market capitalization of $696.15 million, a price-to-earnings ratio of 4.75, a PEG ratio of 2.00 and a beta of 0.73. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.37 and a current ratio of 2.37.

Insider Activity

In other news, Director Dan Alexandru Solomon sold 266,667 shares of the business’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $13.35, for a total value of $3,560,004.45. Following the completion of the sale, the director owned 2,389,665 shares of the company’s stock, valued at approximately $31,902,027.75. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PD. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in PagerDuty by 78.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 323,951 shares of the company’s stock worth $5,352,000 after acquiring an additional 142,232 shares during the period. ARK Investment Management LLC grew its holdings in shares of PagerDuty by 2.6% during the 3rd quarter. ARK Investment Management LLC now owns 8,827,404 shares of the company’s stock worth $145,829,000 after purchasing an additional 224,769 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of PagerDuty by 17.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,593,954 shares of the company’s stock worth $208,052,000 after purchasing an additional 1,840,407 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of PagerDuty in the third quarter worth $4,312,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of PagerDuty in the second quarter worth $320,000. 97.26% of the stock is owned by institutional investors.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.