ArrowMark Colorado Holdings LLC Lowers Position in PagerDuty, Inc. (NYSE:PD)

ArrowMark Colorado Holdings LLC cut its position in shares of PagerDuty, Inc. (NYSE:PD) by 51.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 488,104 shares of the company’s stock after selling 511,043 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.52% of PagerDuty worth $9,054,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP increased its stake in PagerDuty by 1,537.2% in the second quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after purchasing an additional 1,322 shares during the period. First Horizon Advisors Inc. boosted its stake in PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after purchasing an additional 508 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of PagerDuty by 170.6% during the second quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after buying an additional 1,578 shares during the period. Headlands Technologies LLC purchased a new stake in PagerDuty during the 2nd quarter valued at about $114,000. Finally, nVerses Capital LLC purchased a new stake in PagerDuty in the third quarter valued at approximately $176,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PagerDuty news, insider Shelley Webb sold 6,246 shares of PagerDuty stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total transaction of $113,177.52. Following the transaction, the insider now owns 216,572 shares of the company’s stock, valued at $3,924,284.64. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 38,392 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.05, for a total value of $769,759.60. Following the completion of the sale, the chief executive officer now directly owns 907,631 shares of the company’s stock, valued at $18,198,001.55. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,396 shares of company stock valued at $1,733,561. 7.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PD. Craig Hallum dropped their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on shares of PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Morgan Stanley dropped their price target on PagerDuty from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Bank of America cut their price objective on shares of PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Robert W. Baird cut their target price on PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, PagerDuty has an average rating of “Hold” and an average price target of $22.00.

PagerDuty Stock Up 1.9 %

PagerDuty stock opened at $21.65 on Tuesday. The stock’s fifty day moving average is $18.94 and its two-hundred day moving average is $19.60. PagerDuty, Inc. has a 1-year low of $16.46 and a 1-year high of $26.70. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.13 and a current ratio of 2.13.

PagerDuty (NYSE:PD) last posted its earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $115.94 million during the quarter, compared to analysts’ expectations of $116.52 million. PagerDuty had a negative return on equity of 20.13% and a negative net margin of 16.29%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) earnings per share. On average, equities research analysts anticipate that PagerDuty, Inc. will post -0.37 EPS for the current fiscal year.

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.