State Street Corp boosted its stake in shares of Pagerduty Inc (NYSE:PD) by 17.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 497,906 shares of the company’s stock after acquiring an additional 72,746 shares during the quarter. State Street Corp’s holdings in Pagerduty were worth $8,604,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Pagerduty by 22.5% during the 1st quarter. Wellington Management Group LLP now owns 3,608,465 shares of the company’s stock worth $62,355,000 after acquiring an additional 662,420 shares during the period. Nikko Asset Management Americas Inc. purchased a new position in shares of Pagerduty during the 1st quarter worth approximately $30,130,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Pagerduty during the 1st quarter worth approximately $30,130,000. Clearbridge Investments LLC raised its stake in shares of Pagerduty by 8.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,485,215 shares of the company’s stock worth $25,665,000 after buying an additional 112,802 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Pagerduty by 60.5% during the 1st quarter. Franklin Resources Inc. now owns 1,464,868 shares of the company’s stock worth $25,313,000 after buying an additional 552,275 shares in the last quarter. 66.26% of the stock is owned by institutional investors.
PD has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Pagerduty from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Robert W. Baird reissued a “buy” rating and set a $34.00 target price on shares of Pagerduty in a research note on Wednesday, July 1st. Morgan Stanley increased their target price on Pagerduty from $18.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Zacks Investment Research raised Pagerduty from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, May 20th. Finally, Monness Crespi & Hardt started coverage on Pagerduty in a research note on Monday, July 20th. They issued a “buy” rating and a $35.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $25.53.
Pagerduty (NYSE:PD) last posted its quarterly earnings data on Thursday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. Pagerduty had a negative return on equity of 16.18% and a negative net margin of 27.81%. The business had revenue of $49.79 million for the quarter, compared to analysts’ expectations of $47.99 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The business’s revenue was up 33.4% on a year-over-year basis. Research analysts anticipate that Pagerduty Inc will post -0.64 earnings per share for the current fiscal year.
In related news, insider Dan Alexandru Solomon sold 65,853 shares of Pagerduty stock in a transaction on Friday, June 19th. The stock was sold at an average price of $31.47, for a total value of $2,072,393.91. Following the transaction, the insider now owns 3,647,050 shares in the company, valued at $114,772,663.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Wilson sold 20,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.30, for a total value of $506,000.00. The disclosure for this sale can be found here. Insiders have sold 373,819 shares of company stock worth $10,311,897 in the last 90 days. Insiders own 12.60% of the company’s stock.
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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