Interchange Capital Partners LLC Reduces Position in PagerDuty, Inc. (NYSE:PD)

Interchange Capital Partners LLC cut its position in shares of PagerDuty, Inc. (NYSE:PD) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,926 shares of the company’s stock after selling 686 shares during the period. Interchange Capital Partners LLC’s holdings in PagerDuty were worth $203,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP boosted its stake in shares of PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after purchasing an additional 1,322 shares during the period. First Horizon Advisors Inc. boosted its position in PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after buying an additional 508 shares during the period. Fred Alger Management LLC boosted its position in PagerDuty by 170.6% in the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock valued at $57,000 after buying an additional 1,578 shares during the period. Cambridge Trust Co. purchased a new stake in PagerDuty in the 1st quarter valued at about $68,000. Finally, Headlands Technologies LLC purchased a new stake in PagerDuty in the 2nd quarter valued at about $114,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Trading Up 2.3 %

NYSE PD opened at $18.47 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38. The firm has a market cap of $1.72 billion, a PE ratio of -20.75 and a beta of 1.07. The company has a 50 day moving average price of $18.30 and a 200 day moving average price of $19.69. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $115.94 million during the quarter, compared to analyst estimates of $116.52 million. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. PagerDuty’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.18) EPS. As a group, sell-side analysts forecast that PagerDuty, Inc. will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Shelley Webb sold 6,246 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total transaction of $113,177.52. Following the completion of the transaction, the insider now owns 216,572 shares in the company, valued at $3,924,284.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other PagerDuty news, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total transaction of $376,687.50. Following the transaction, the chief executive officer now owns 1,010,861 shares in the company, valued at approximately $20,308,197.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shelley Webb sold 6,246 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total transaction of $113,177.52. Following the transaction, the insider now owns 216,572 shares in the company, valued at $3,924,284.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,938 shares of company stock worth $542,998 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on PD. The Goldman Sachs Group lowered their price objective on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Scotiabank lowered their price objective on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 4th. Craig Hallum lowered their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada lowered their price objective on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PagerDuty from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.82.

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.