PagerDuty (NYSE:PD) Cut to Underperform at Bank of America

PagerDuty (NYSE:PD) was downgraded by analysts at Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $18.00 price target on the stock, down from their prior price target of $23.00. Bank of America‘s target price suggests a potential downside of 7.10% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Royal Bank of Canada upped their price objective on PagerDuty from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, PagerDuty currently has an average rating of “Hold” and a consensus price target of $21.64.

PagerDuty Price Performance

NYSE PD opened at $19.38 on Thursday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. PagerDuty has a 52-week low of $16.46 and a 52-week high of $25.47. The business has a 50 day simple moving average of $19.25 and a 200 day simple moving average of $19.06. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -24.22 and a beta of 1.13.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 12,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $20.12, for a total value of $251,500.00. Following the completion of the sale, the chief executive officer now directly owns 907,631 shares in the company, valued at approximately $18,261,535.72. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now owns 199,122 shares of the company’s stock, valued at $3,622,029.18. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,587 shares of company stock valued at $1,962,070 in the last 90 days. 7.60% of the stock is currently owned by insiders.

Institutional Trading of PagerDuty

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of PagerDuty by 285.8% during the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock worth $23,444,000 after acquiring an additional 936,257 shares during the period. Loomis Sayles & Co. L P grew its holdings in PagerDuty by 33.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company’s stock valued at $14,995,000 after buying an additional 202,382 shares in the last quarter. Barclays PLC increased its position in PagerDuty by 24.2% during the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after buying an additional 175,733 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of PagerDuty by 297.0% during the third quarter. Edgestream Partners L.P. now owns 219,294 shares of the company’s stock worth $4,068,000 after buying an additional 164,061 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of PagerDuty in the second quarter valued at about $2,956,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.