PagerDuty, Inc. (NYSE:PD) Shares Sold by Potrero Capital Research LLC

Potrero Capital Research LLC cut its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 86.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,192 shares of the company’s stock after selling 440,483 shares during the period. PagerDuty comprises about 0.4% of Potrero Capital Research LLC’s investment portfolio, making the stock its 29th biggest holding. Potrero Capital Research LLC owned approximately 0.08% of PagerDuty worth $1,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Holocene Advisors LP raised its position in shares of PagerDuty by 43.7% in the 3rd quarter. Holocene Advisors LP now owns 162,658 shares of the company’s stock valued at $3,017,000 after purchasing an additional 49,476 shares in the last quarter. Clearline Capital LP increased its holdings in shares of PagerDuty by 72.9% in the 3rd quarter. Clearline Capital LP now owns 99,717 shares of the company’s stock valued at $1,850,000 after acquiring an additional 42,037 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of PagerDuty by 12,322.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 48,076 shares of the company’s stock valued at $892,000 after acquiring an additional 47,689 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of PagerDuty by 297.0% in the 3rd quarter. Edgestream Partners L.P. now owns 219,294 shares of the company’s stock valued at $4,068,000 after acquiring an additional 164,061 shares during the last quarter. Finally, Firsthand Capital Management Inc. grew its stake in PagerDuty by 8,900.0% during the 3rd quarter. Firsthand Capital Management Inc. now owns 90,000 shares of the company’s stock worth $1,670,000 after buying an additional 89,000 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Stock Performance

Shares of PD stock opened at $21.23 on Wednesday. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 2.13. PagerDuty, Inc. has a fifty-two week low of $16.46 and a fifty-two week high of $26.70. The stock’s 50-day moving average is $19.00 and its two-hundred day moving average is $19.59. The firm has a market cap of $1.91 billion, a P/E ratio of -26.54 and a beta of 1.09.

PagerDuty (NYSE:PD) last issued its earnings results 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 22.02% and a negative net margin of 16.29%. The company had revenue of $115.94 million for the quarter, compared to analyst estimates of $116.52 million. During the same period in the prior year, the firm posted ($0.18) EPS. The business’s revenue was up 7.7% compared to the same quarter last year. Analysts predict that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Scotiabank lowered their price objective on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note 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 for the company in a report on Wednesday, September 4th. Royal Bank of Canada upped their price objective on PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. TD Cowen reduced their target price on PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Finally, Bank of America reduced their target price on PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, PagerDuty presently has an average rating of “Hold” and an average price target of $22.00.

Insider Activity

In related news, CEO Jennifer Tejada sold 18,750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.04, for a total transaction of $375,750.00. Following the completion of the transaction, the chief executive officer now owns 907,631 shares in the company, valued at $18,188,925.24. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mitra Rezvan sold 2,942 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total value of $53,132.52. Following the transaction, the chief accounting officer now owns 108,449 shares of the company’s stock, valued at $1,958,588.94. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,396 shares of company stock valued at $1,733,561. Insiders own 7.60% of the company’s stock.

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.