Jasper Ridge Partners L.P. Sells 2,949 Shares of PagerDuty, Inc. (NYSE:PD)

Jasper Ridge Partners L.P. lessened its stake in shares of PagerDuty, Inc. (NYSE:PD) by 18.6% in the 4th quarter, Holdings Channel reports. The firm owned 12,867 shares of the company’s stock after selling 2,949 shares during the period. Jasper Ridge Partners L.P.’s holdings in PagerDuty were worth $235,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its position in PagerDuty by 2.0% during the fourth quarter. Barclays PLC now owns 918,762 shares of the company’s stock valued at $16,777,000 after acquiring an additional 17,642 shares during the last quarter. Northern Trust Corp boosted its holdings in PagerDuty by 4.0% during the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company’s stock valued at $16,563,000 after acquiring an additional 35,026 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of PagerDuty by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock valued at $16,531,000 after purchasing an additional 100,207 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of PagerDuty by 7.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company’s stock worth $15,051,000 after purchasing an additional 55,233 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in PagerDuty by 0.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 812,609 shares of the company’s stock worth $14,838,000 after buying an additional 4,244 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PD shares. The Goldman Sachs Group reduced their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Truist Financial 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 Friday, March 14th. Morgan Stanley dropped their target price on shares of PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Canaccord Genuity Group lowered their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.55.

PagerDuty Stock Up 1.3 %

Shares of NYSE PD opened at $15.88 on Friday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -19.85 and a beta of 0.99. PagerDuty, Inc. has a 52 week low of $14.30 and a 52 week high of $23.12. The firm has a 50-day moving average price of $16.55 and a 200 day moving average price of $18.16. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. Equities research analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its board has authorized a stock buyback program on Thursday, March 13th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

PagerDuty 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.