Pictet Asset Management Holding SA Has $249,000 Stake in PagerDuty, Inc. (NYSE:PD)

Pictet Asset Management Holding SA raised its stake in PagerDuty, Inc. (NYSE:PD) by 35.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,631 shares of the company’s stock after buying an additional 3,533 shares during the quarter. Pictet Asset Management Holding SA’s holdings in PagerDuty were worth $249,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in PagerDuty during the fourth quarter worth about $43,000. Picton Mahoney Asset Management bought a new position in shares of PagerDuty during the 4th quarter worth approximately $58,000. Vinva Investment Management Ltd purchased a new position in shares of PagerDuty in the 4th quarter worth approximately $139,000. PNC Financial Services Group Inc. boosted its stake in shares of PagerDuty by 24.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock worth $184,000 after buying an additional 1,965 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of PagerDuty by 22.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company’s stock valued at $247,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the transaction, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.60% of the company’s stock.

PagerDuty Stock Down 7.2 %

PD opened at $15.36 on Friday. PagerDuty, Inc. has a 12 month low of $14.40 and a 12 month high of $23.12. The company has a market cap of $1.40 billion, a PE ratio of -19.19 and a beta of 1.06. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The company has a 50 day moving average of $17.89 and a 200 day moving average of $18.58.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has initiated a share buyback program on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PD shares. The Goldman Sachs Group cut their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada cut their price target on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday, March 14th. Bank of America downgraded 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 report on Thursday, January 30th. Finally, Truist Financial lowered their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.73.

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.