Hel Ved Capital Management Ltd Invests $484,000 in PagerDuty, Inc. (NYSE:PD)

Hel Ved Capital Management Ltd purchased a new stake in PagerDuty, Inc. (NYSE:PD) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 26,500 shares of the company’s stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PD. Venturi Wealth Management LLC bought a new position in PagerDuty during the 4th quarter worth $43,000. Quarry LP raised its position in shares of PagerDuty by 98.3% in the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after buying an additional 1,384 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of PagerDuty during the 4th quarter worth approximately $58,000. Vinva Investment Management Ltd bought a new position in PagerDuty in the fourth quarter valued at approximately $139,000. Finally, Point72 DIFC Ltd acquired a new position in PagerDuty during the third quarter valued at approximately $163,000. 97.26% of the stock is owned by institutional investors and hedge funds.

PagerDuty Trading Down 8.7 %

NYSE PD opened at $15.52 on Friday. The stock has a market capitalization of $1.41 billion, a P/E ratio of -19.39 and a beta of 1.06. The business has a 50 day simple moving average of $18.32 and a 200 day simple moving average of $18.68. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. PagerDuty, Inc. has a one year low of $15.37 and a one year high of $23.40.

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

PagerDuty announced that its board has approved a share repurchase plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following 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 legal filing with the SEC, which is available at this link. Also, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now owns 199,122 shares of the company’s stock, valued at $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 three months, insiders have sold 10,048 shares of company stock valued at $186,699. 7.60% of the stock is owned by company insiders.

Analyst Ratings Changes

PD has been the topic of several recent analyst reports. Canaccord Genuity Group decreased their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their price target for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Royal Bank of Canada cut their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group lowered their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, PagerDuty has a consensus rating of “Hold” and a consensus price target of $20.73.

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.