PagerDuty, Inc. (NYSE:PD) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC boosted its stake in PagerDuty, Inc. (NYSE:PD) by 8.1% in the 4th quarter, Holdings Channel reports. The firm owned 11,413,423 shares of the company’s stock after buying an additional 858,838 shares during the quarter. PagerDuty accounts for approximately 1.6% of ARK Investment Management LLC’s portfolio, making the stock its 20th biggest position. ARK Investment Management LLC owned 0.12% of PagerDuty worth $264,221,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of PagerDuty by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 34,383 shares of the company’s stock valued at $913,000 after buying an additional 518 shares during the last quarter. Principal Financial Group Inc. grew its position in PagerDuty by 5.7% during the 2nd quarter. Principal Financial Group Inc. now owns 10,075 shares of the company’s stock worth $226,000 after purchasing an additional 547 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of PagerDuty by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 24,941 shares of the company’s stock valued at $561,000 after acquiring an additional 563 shares in the last quarter. Corton Capital Inc. grew its holdings in shares of PagerDuty by 6.4% during the 1st quarter. Corton Capital Inc. now owns 10,105 shares of the company’s stock valued at $353,000 after acquiring an additional 610 shares in the last quarter. Finally, Diversified Trust Co increased its stake in shares of PagerDuty by 4.2% in the third quarter. Diversified Trust Co now owns 16,312 shares of the company’s stock worth $367,000 after acquiring an additional 660 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PD has been the topic of several research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 target price on shares of PagerDuty in a research report on Wednesday, January 24th. Robert W. Baird cut their target price on PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Truist Financial upgraded PagerDuty from a “hold” rating to a “buy” rating and upped their price target for the stock from $25.00 to $30.00 in a research note on Monday, March 18th. Bank of America began coverage on PagerDuty in a research report on Thursday, December 14th. They set a “buy” rating and a $30.00 target price for the company. Finally, Royal Bank of Canada reduced their price objective on shares of PagerDuty from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.25.

PagerDuty Stock Down 0.3 %

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

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

Insider Transactions at PagerDuty

In other news, CFO Howard Wilson sold 8,893 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.09, for a total value of $223,125.37. Following the sale, the chief financial officer now owns 507,672 shares of the company’s stock, valued at approximately $12,737,490.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PagerDuty news, 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 transaction of $118,106.60. Following the transaction, the senior vice president now directly owns 177,087 shares in the company, valued at approximately $3,789,661.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Howard Wilson sold 8,893 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.09, for a total transaction of $223,125.37. Following the transaction, the chief financial officer now owns 507,672 shares in the company, valued at $12,737,490.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,298 shares of company stock valued at $1,364,392. 7.90% of the stock is owned by insiders.

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.