Vestmark Advisory Solutions Inc. Sells 185,216 Shares of PagerDuty $PD

Vestmark Advisory Solutions Inc. trimmed its holdings in shares of PagerDuty (NYSE:PD) by 47.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 205,999 shares of the company’s stock after selling 185,216 shares during the period. Vestmark Advisory Solutions Inc. owned about 0.22% of PagerDuty worth $3,403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System boosted its position in PagerDuty by 2.6% during the third quarter. Arizona State Retirement System now owns 25,911 shares of the company’s stock valued at $428,000 after purchasing an additional 658 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PagerDuty by 1.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company’s stock valued at $943,000 after acquiring an additional 671 shares during the period. California State Teachers Retirement System increased its stake in shares of PagerDuty by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 81,474 shares of the company’s stock worth $1,245,000 after purchasing an additional 1,129 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of PagerDuty by 20.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,058 shares of the company’s stock valued at $230,000 after purchasing an additional 2,511 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in PagerDuty by 4.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 64,016 shares of the company’s stock valued at $1,058,000 after purchasing an additional 2,582 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Cowen reissued a “buy” rating on shares of PagerDuty in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PagerDuty in a research note on Monday, December 29th. Zacks Research cut PagerDuty from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Truist Financial cut their price target on PagerDuty from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of PagerDuty from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PagerDuty has a consensus rating of “Hold” and an average price target of $16.00.

PagerDuty Stock Down 5.0%

NYSE:PD opened at $6.24 on Tuesday. The company has a market cap of $572.98 million, a price-to-earnings ratio of 3.90, a price-to-earnings-growth ratio of 1.64 and a beta of 0.66. PagerDuty has a twelve month low of $6.18 and a twelve month high of $19.70. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $10.67 and a 200-day simple moving average of $13.74.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.24 by $0.09. The company had revenue of $124.55 million for the quarter, compared to the consensus estimate of $124.92 million. PagerDuty had a net margin of 31.12% and a return on equity of 10.27%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. Analysts anticipate that PagerDuty will post -0.27 EPS for the current year.

Insider Activity at PagerDuty

In other news, Director Dan Alexandru Solomon sold 266,667 shares of PagerDuty stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $13.35, for a total transaction of $3,560,004.45. Following the completion of the sale, the director owned 2,389,665 shares of the company’s stock, valued at approximately $31,902,027.75. The trade was a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.00% of the company’s stock.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.