IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 22,305 Shares of PagerDuty, Inc. (NYSE:PD)

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 135.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,829 shares of the company’s stock after purchasing an additional 22,305 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in PagerDuty were worth $709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC bought a new position in PagerDuty in the fourth quarter worth $43,000. Quarry LP lifted its holdings in shares of PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after acquiring an additional 1,384 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of PagerDuty during the 4th quarter valued at about $58,000. Fred Alger Management LLC increased its stake in PagerDuty by 63.7% in the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after acquiring an additional 1,594 shares during the period. Finally, Vinva Investment Management Ltd acquired a new position in PagerDuty in the fourth quarter worth about $139,000. Institutional investors own 97.26% of the company’s stock.

Insider Transactions at PagerDuty

In related news, insider Shelley Webb sold 7,879 shares of the firm’s 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 completion of the sale, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,048 shares of company stock worth $186,699 in the last three months. Insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PD shares. Royal Bank of Canada dropped their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. The Goldman Sachs Group dropped their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group decreased their price objective on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Truist Financial dropped their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.73.

PagerDuty Trading Down 1.3 %

NYSE PD opened at $18.78 on Friday. The stock’s 50-day moving average is $18.44 and its 200-day moving average is $18.69. PagerDuty, Inc. has a one year low of $15.49 and a one year high of $23.40. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market cap of $1.71 billion, a P/E ratio of -23.47 and a beta of 1.12.

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

PagerDuty declared that its Board of Directors has approved a share buyback plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.