Cubist Systematic Strategies LLC Takes $325,000 Position in Pagerduty Inc (NYSE:PD)

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Cubist Systematic Strategies LLC bought a new stake in Pagerduty Inc (NYSE:PD) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,899 shares of the company’s stock, valued at approximately $325,000.

Several other hedge funds have also recently modified their holdings of the company. Morgan Stanley bought a new stake in shares of Pagerduty in the 2nd quarter valued at about $13,436,000. Man Group plc bought a new position in Pagerduty in the 2nd quarter valued at about $495,000. UBS Oconnor LLC bought a new position in Pagerduty in the 2nd quarter valued at about $1,045,000. HBK Investments L P bought a new position in Pagerduty in the 2nd quarter valued at about $9,410,000. Finally, Raging Capital Management LLC bought a new position in Pagerduty in the 2nd quarter valued at about $410,000. 49.34% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on the stock. KeyCorp reissued a “hold” rating on shares of Pagerduty in a report on Friday, September 6th. TD Securities raised shares of Pagerduty to a “top pick” rating and lowered their price target for the company from $5.00 to $4.50 in a report on Wednesday, September 4th. Canaccord Genuity reissued a “buy” rating on shares of Pagerduty in a report on Tuesday, July 9th. ValuEngine cut shares of Pagerduty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada set a $49.00 price target on shares of Pagerduty and gave the company a “buy” rating in a report on Tuesday, September 24th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $35.73.

Pagerduty stock opened at $26.09 on Friday. The firm has a 50-day moving average of $31.35. Pagerduty Inc has a twelve month low of $24.80 and a twelve month high of $59.82.

Pagerduty (NYSE:PD) last announced its earnings results on Thursday, September 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.12. The business had revenue of $40.40 million for the quarter, compared to analyst estimates of $39.12 million. The business’s revenue was up 45.8% on a year-over-year basis. On average, equities research analysts anticipate that Pagerduty Inc will post -0.76 earnings per share for the current year.

Pagerduty Company Profile

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

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Institutional Ownership by Quarter for Pagerduty (NYSE:PD)

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