PagerDuty (NYSE:PD) Shares Gap Down – Here’s What Happened

PagerDuty, Inc. (NYSE:PD)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $19.38, but opened at $18.70. PagerDuty shares last traded at $18.51, with a volume of 172,040 shares trading hands.

Analyst Upgrades and Downgrades

PD has been the subject of a number of recent research reports. 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 note on Wednesday, November 27th. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their target price for the company from $23.00 to $18.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, PagerDuty presently has a consensus rating of “Hold” and a consensus price target of $21.64.

PagerDuty Trading Down 4.0 %

The firm has a 50 day moving average price of $19.26 and a two-hundred day moving average price of $19.06. The firm has a market capitalization of $1.68 billion, a P/E ratio of -23.36 and a beta of 1.13. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97.

Insider Activity at PagerDuty

In other news, CEO Jennifer Tejada sold 38,392 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.05, for a total value of $769,759.60. Following the transaction, the chief executive officer now directly owns 907,631 shares of the company’s stock, valued at approximately $18,198,001.55. This represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shelley Webb sold 7,879 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,587 shares of company stock worth $1,962,070 in the last quarter. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On PagerDuty

Institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its holdings in PagerDuty by 1,537.2% during the second quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after acquiring an additional 1,322 shares during the period. Fred Alger Management LLC raised its stake in shares of PagerDuty by 63.7% in the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after purchasing an additional 1,594 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of PagerDuty during the 3rd quarter worth about $163,000. nVerses Capital LLC acquired a new stake in PagerDuty during the third quarter valued at approximately $176,000. Finally, Blue Trust Inc. boosted its stake in shares of PagerDuty by 33.7% in the 3rd quarter. Blue Trust Inc. now owns 11,858 shares of the company’s stock valued at $220,000 after purchasing an additional 2,986 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.

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.