Hel Ved Capital Management Ltd Invests $484,000 in PagerDuty, Inc. (NYSE:PD)

Hel Ved Capital Management Ltd purchased a new stake in PagerDuty, Inc. (NYSE:PD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,500 shares of the company’s stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PD. Alliancebernstein L.P. grew its stake in shares of PagerDuty by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company’s stock worth $1,691,000 after purchasing an additional 674 shares during the period. Point72 Asset Management L.P. boosted its holdings in PagerDuty by 1.4% during the third quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company’s stock worth $1,083,000 after buying an additional 819 shares during the last quarter. Quarry LP grew its position in shares of PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after buying an additional 1,384 shares during the period. Franklin Resources Inc. increased its stake in shares of PagerDuty by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after acquiring an additional 1,701 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position 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 valued at $184,000 after acquiring an additional 1,965 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Price Performance

NYSE PD opened at $15.52 on Friday. The firm’s 50 day moving average is $18.32 and its 200-day moving average is $18.68. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $1.41 billion, a PE ratio of -19.39 and a beta of 1.06. PagerDuty, Inc. has a 12-month low of $15.37 and a 12-month high of $23.40.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The firm had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same period in the previous year, the business earned $0.17 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

PagerDuty declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

PD has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and decreased their price target for the company from $23.00 to $18.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 price objective on shares of PagerDuty in a research note on Wednesday, December 11th. Canaccord Genuity Group decreased their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Finally, 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 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.73.

Insider Activity

In related news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,048 shares of company stock valued at $186,699. 7.60% of the stock is owned by insiders.

PagerDuty 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.