Pagerduty (NYSE:PD) Shares Gap Up to $32.67

Pagerduty Inc (NYSE:PD) gapped up prior to trading on Tuesday . The stock had previously closed at $32.67, but opened at $35.15. Pagerduty shares last traded at $35.79, with a volume of 18,729 shares.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Pagerduty from a “buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Morgan Stanley boosted their target price on shares of Pagerduty from $18.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $34.00 target price on shares of Pagerduty in a research note on Wednesday, July 1st. Monness Crespi & Hardt assumed coverage on shares of Pagerduty in a research note on Monday, July 20th. They issued a “buy” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Pagerduty from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.53.

The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -53.01 and a beta of 1.10. The stock’s fifty day moving average is $29.06 and its 200-day moving average is $24.44.

Pagerduty (NYSE:PD) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $50.71 million during the quarter, compared to analysts’ expectations of $50.67 million. Pagerduty had a negative net margin of 27.81% and a negative return on equity of 16.18%. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, sell-side analysts forecast that Pagerduty Inc will post -0.64 EPS for the current year.

In other news, insider Dan Alexandru Solomon sold 21,951 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $31.03, for a total value of $681,139.53. Following the completion of the transaction, the insider now owns 3,511,649 shares in the company, valued at $108,966,468.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Tejada sold 52,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $26.78, for a total transaction of $1,392,560.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 402,314 shares of company stock valued at $11,602,838. Corporate insiders own 12.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Pagerduty by 22.5% in the first quarter. Wellington Management Group LLP now owns 3,608,465 shares of the company’s stock worth $62,355,000 after purchasing an additional 662,420 shares in the last quarter. Vanguard Group Inc. raised its position in Pagerduty by 38.8% during the second quarter. Vanguard Group Inc. now owns 3,468,910 shares of the company’s stock worth $99,281,000 after acquiring an additional 970,549 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Pagerduty by 98.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,452,686 shares of the company’s stock worth $98,816,000 after acquiring an additional 1,709,078 shares in the last quarter. Nikko Asset Management Americas Inc. bought a new stake in Pagerduty during the first quarter worth $30,130,000. Finally, Clearbridge Investments LLC raised its position in Pagerduty by 8.2% during the first quarter. Clearbridge Investments LLC now owns 1,485,215 shares of the company’s stock worth $25,665,000 after acquiring an additional 112,802 shares in the last quarter. 76.68% of the stock is currently owned by institutional investors and hedge funds.

About Pagerduty (NYSE:PD)

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

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