Stanley Laman Group Ltd. Sells 30,949 Shares of PagerDuty, Inc. (NYSE:PD)

Stanley Laman Group Ltd. reduced its stake in PagerDuty, Inc. (NYSE:PD) by 11.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 237,799 shares of the company’s stock after selling 30,949 shares during the quarter. Stanley Laman Group Ltd.’s holdings in PagerDuty were worth $4,411,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quarry LP boosted its holdings in shares of PagerDuty by 1,537.2% in the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after purchasing an additional 1,322 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after purchasing an additional 508 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of PagerDuty by 170.6% in the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock valued at $57,000 after purchasing an additional 1,578 shares in the last quarter. Cambridge Trust Co. acquired a new stake in shares of PagerDuty in the 1st quarter valued at $68,000. Finally, Headlands Technologies LLC acquired a new stake in shares of PagerDuty in the 2nd quarter valued at $114,000. 97.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PD. Craig Hallum reduced their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Scotiabank cut their price objective on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 4th. Robert W. Baird cut their price objective on PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. The Goldman Sachs Group cut their price objective on PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut their price objective on PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.91.

PagerDuty Stock Down 3.1 %

Shares of NYSE:PD opened at $18.21 on Wednesday. The firm has a market cap of $1.69 billion, a P/E ratio of -20.46 and a beta of 1.06. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38. PagerDuty, Inc. has a 12-month low of $16.46 and a 12-month high of $26.70. The business has a fifty day simple moving average of $18.51 and a 200 day simple moving average of $19.89.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm had revenue of $115.94 million during the quarter, compared to analyst estimates of $116.52 million. During the same period last year, the company posted ($0.18) EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts predict that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

Insider Transactions at PagerDuty

In related news, insider Shelley Webb sold 6,246 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the completion of the sale, the insider now directly owns 216,572 shares of the company’s stock, valued at $3,924,284.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Shelley Webb sold 6,246 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the completion of the sale, the insider now directly owns 216,572 shares of the company’s stock, valued at $3,924,284.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mitra Rezvan sold 2,942 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total value of $53,132.52. Following the completion of the sale, the chief accounting officer now directly owns 108,449 shares of the company’s stock, valued at $1,958,588.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,450 shares of company stock valued at $862,262. Corporate insiders own 7.60% of the company’s stock.

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.