ARK Investment Management LLC Grows Position in PagerDuty, Inc. (NYSE:PD)

ARK Investment Management LLC boosted its position in PagerDuty, Inc. (NYSE:PD) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,413,423 shares of the company’s stock after purchasing an additional 858,838 shares during the period. PagerDuty comprises 1.6% of ARK Investment Management LLC’s portfolio, making the stock its 20th biggest holding. ARK Investment Management LLC owned about 12.29% of PagerDuty worth $264,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Qsemble Capital Management LP bought a new position in shares of PagerDuty in the third quarter worth about $972,000. California Public Employees Retirement System raised its stake in shares of 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 buying an additional 4,335 shares during the period. Bank of New York Mellon Corp raised its stake in shares of PagerDuty by 9.0% in the third quarter. Bank of New York Mellon Corp now owns 740,372 shares of the company’s stock worth $16,651,000 after buying an additional 60,913 shares during the period. AQR Capital Management LLC raised its stake in shares of PagerDuty by 56.0% in the third quarter. AQR Capital Management LLC now owns 190,567 shares of the company’s stock worth $4,286,000 after buying an additional 68,442 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of PagerDuty by 99.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 333,075 shares of the company’s stock worth $7,491,000 after buying an additional 166,469 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PagerDuty

In other news, SVP Shelley Webb sold 5,519 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $21.40, for a total value of $118,106.60. Following the completion of the transaction, the senior vice president now directly owns 177,087 shares of the company’s stock, valued at approximately $3,789,661.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Howard Wilson sold 5,000 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $26.27, for a total value of $131,350.00. Following the completion of the transaction, the chief financial officer now directly owns 511,565 shares of the company’s stock, valued at approximately $13,438,812.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Shelley Webb sold 5,519 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $21.40, for a total value of $118,106.60. Following the transaction, the senior vice president now directly owns 177,087 shares in the company, valued at $3,789,661.80. The disclosure for this sale can be found here. Insiders sold a total of 54,298 shares of company stock valued at $1,364,392 in the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PD. TD Cowen downgraded PagerDuty from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $29.00 to $23.00 in a research note on Friday, December 1st. Canaccord Genuity Group decreased their target price on PagerDuty from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Bank of America began coverage on PagerDuty in a research note on Thursday, December 14th. They set a “buy” rating and a $30.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and set a $30.00 target price on shares of PagerDuty in a research note on Wednesday, January 24th. Finally, Robert W. Baird cut their price target on PagerDuty from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

PagerDuty Trading Down 0.3 %

PD opened at $21.98 on Thursday. The business has a fifty day moving average of $23.75 and a 200 day moving average of $22.75. PagerDuty, Inc. has a 52-week low of $19.18 and a 52-week high of $35.33. The company has a debt-to-equity ratio of 2.61, a quick ratio of 2.50 and a current ratio of 2.50.

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

PagerDuty Profile

PagerDuty, Inc engages in the operation of a digital operations management platform in the United States, EMEA, the Asia Pacific, and Japan. The company's digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage powerful machine learning to correlate, process, and predict opportunities and issues.