Clearline Capital LP Grows Holdings in PagerDuty, Inc. (NYSE:PD)

Clearline Capital LP lifted its position in shares of PagerDuty, Inc. (NYSE:PD) by 72.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,717 shares of the company’s stock after acquiring an additional 42,037 shares during the quarter. Clearline Capital LP’s holdings in PagerDuty were worth $1,850,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. ARK Investment Management LLC raised its holdings in PagerDuty by 12.5% in the 2nd quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock worth $243,156,000 after purchasing an additional 1,180,202 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of PagerDuty by 33.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company’s stock worth $14,995,000 after buying an additional 202,382 shares during the period. Edgestream Partners L.P. lifted its position in shares of PagerDuty by 297.0% during the 3rd quarter. Edgestream Partners L.P. now owns 219,294 shares of the company’s stock valued at $4,068,000 after buying an additional 164,061 shares in the last quarter. RGM Capital LLC lifted its position in shares of PagerDuty by 3.3% during the 2nd quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock valued at $103,286,000 after buying an additional 143,701 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in PagerDuty in the 2nd quarter valued at $2,956,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Mitra Rezvan sold 2,942 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total value of $53,132.52. Following the transaction, the chief accounting officer now directly owns 108,449 shares in the company, valued at approximately $1,958,588.94. This represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $20.04, for a total transaction of $375,750.00. Following the completion of the sale, the chief executive officer now owns 907,631 shares of the company’s stock, valued at $18,188,925.24. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,396 shares of company stock valued at $1,733,561 over the last quarter. 7.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PD has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Scotiabank decreased their price target on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 4th. Craig Hallum cut their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price target on PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada increased their price objective on PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.00.

PagerDuty Trading Up 1.1 %

Shares of PD opened at $21.24 on Monday. PagerDuty, Inc. has a 12-month low of $16.46 and a 12-month high of $26.70. The firm has a market capitalization of $1.98 billion, a P/E ratio of -26.55 and a beta of 1.07. The firm has a 50-day moving average price of $18.87 and a 200 day moving average price of $19.59. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $115.94 million during the quarter, compared to analysts’ expectations of $116.52 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 20.13%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. Sell-side analysts forecast that PagerDuty, Inc. will post -0.37 EPS for the current year.

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.