Massachusetts Financial Services Co. MA Has $4.24 Million Stake in PagerDuty, Inc. (NYSE:PD)

Massachusetts Financial Services Co. MA reduced its holdings in PagerDuty, Inc. (NYSE:PD) by 80.6% during the 3rd quarter, Holdings Channel reports. The fund owned 228,504 shares of the company’s stock after selling 947,019 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in PagerDuty were worth $4,239,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PD. Intech Investment Management LLC bought a new position in shares of PagerDuty in the third quarter valued at about $444,000. Connor Clark & Lunn Investment Management Ltd. increased its position in PagerDuty by 4.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 489,905 shares of the company’s stock valued at $9,088,000 after acquiring an additional 21,126 shares in the last quarter. Quest Partners LLC bought a new position in shares of PagerDuty in the third quarter worth about $845,000. Jackson Square Capital LLC acquired a new position in shares of PagerDuty during the third quarter worth approximately $665,000. Finally, SteelPeak Wealth LLC grew its stake in shares of PagerDuty by 186.7% during the third quarter. SteelPeak Wealth LLC now owns 25,043 shares of the company’s stock valued at $465,000 after purchasing an additional 16,309 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Stock Up 1.3 %

Shares of NYSE PD opened at $20.91 on Wednesday. PagerDuty, Inc. has a 52-week low of $16.46 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.13 and a current ratio of 2.13. The stock has a market cap of $1.95 billion, a P/E ratio of -23.49 and a beta of 1.07. The firm has a 50 day moving average price of $18.68 and a 200 day moving average price of $19.59.

PagerDuty (NYSE:PD) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company 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%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS. Analysts expect that PagerDuty, Inc. will post -0.37 EPS for the current year.

Analyst Ratings Changes

PD has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird cut their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Bank of America dropped their price objective on PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Canaccord Genuity Group reduced their target price on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Morgan Stanley dropped their price target on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, PagerDuty has a consensus rating of “Hold” and a consensus price target of $21.82.

Insiders Place Their Bets

In other news, CFO Howard Wilson sold 21,066 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.02, for a total value of $421,741.32. Following the completion of the transaction, the chief financial officer now owns 545,742 shares in the company, valued at $10,925,754.84. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Tejada sold 38,392 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.05, for a total transaction of $769,759.60. Following the sale, the chief executive officer now directly owns 907,631 shares of the company’s stock, valued at $18,198,001.55. This represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,396 shares of company stock worth $1,733,561 over the last ninety days. 7.60% of the stock is currently owned by corporate insiders.

About PagerDuty

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.