AMI Asset Management Corp Sells 6,693 Shares of PagerDuty, Inc. (NYSE:PD)

AMI Asset Management Corp lowered its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,942 shares of the company’s stock after selling 6,693 shares during the quarter. AMI Asset Management Corp owned about 0.16% of PagerDuty worth $3,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. ARK Investment Management LLC raised its holdings in PagerDuty by 8.1% in the 4th quarter. ARK Investment Management LLC now owns 11,413,423 shares of the company’s stock worth $264,221,000 after acquiring an additional 858,838 shares during the period. Vanguard Group Inc. raised its holdings in PagerDuty by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock worth $220,465,000 after acquiring an additional 536,763 shares during the period. Goldman Sachs Group Inc. raised its holdings in PagerDuty by 65.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock worth $52,911,000 after acquiring an additional 904,136 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in PagerDuty by 50.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock worth $50,011,000 after acquiring an additional 728,152 shares during the period. Finally, Northern Trust Corp raised its holdings in PagerDuty by 7.2% in the 3rd quarter. Northern Trust Corp now owns 873,453 shares of the company’s stock worth $19,644,000 after acquiring an additional 58,951 shares during the period. Institutional investors own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of PagerDuty from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Robert W. Baird decreased their target price on shares of PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. JPMorgan Chase & Co. began coverage on shares of PagerDuty in a research report on Thursday, June 27th. They set a “neutral” rating and a $24.00 target price on the stock. Craig Hallum upgraded shares of PagerDuty from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $30.00 in a research report on Wednesday, June 12th. Finally, Scotiabank began coverage on shares of PagerDuty in a research report on Friday, June 28th. They set a “sector perform” rating and a $23.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, PagerDuty currently has an average rating of “Moderate Buy” and a consensus target price of $26.90.

PagerDuty Price Performance

PD stock traded down $0.07 during trading on Thursday, hitting $22.07. 484,672 shares of the stock traded hands, compared to its average volume of 1,058,808. PagerDuty, Inc. has a one year low of $17.92 and a one year high of $26.70. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -21.86 and a beta of 1.07. The company has a 50 day simple moving average of $20.60 and a 200 day simple moving average of $22.39. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58.

PagerDuty (NYSE:PD) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). PagerDuty had a negative net margin of 21.34% and a negative return on equity of 28.38%. The firm had revenue of $111.17 million during the quarter, compared to the consensus estimate of $111.74 million. Equities analysts expect that PagerDuty, Inc. will post -0.44 EPS for the current fiscal year.

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.