PagerDuty (NYSE:PD) Shares Gap Down on Insider Selling

PagerDuty, Inc. (NYSE:PD) shares gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $19.38, but opened at $18.70. PagerDuty shares last traded at $18.51, with a volume of 172,040 shares traded.

Specifically, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $23.00 to $18.00 in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, PagerDuty has an average rating of “Hold” and a consensus target price of $21.64.

PagerDuty Stock Up 0.6 %

The stock has a 50 day simple moving average of $19.23 and a two-hundred day simple moving average of $19.06. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

Hedge Funds Weigh In On PagerDuty

Hedge funds and other institutional investors have recently made changes to their positions in the company. AMI Asset Management Corp raised its stake in PagerDuty by 154.2% in the fourth quarter. AMI Asset Management Corp now owns 56,156 shares of the company’s stock valued at $1,025,000 after buying an additional 34,063 shares during the period. Jackson Square Capital LLC acquired a new stake in PagerDuty during the 3rd quarter valued at $665,000. Glenmede Trust Co. NA boosted its position in PagerDuty by 11.7% during the third quarter. Glenmede Trust Co. NA now owns 721,633 shares of the company’s stock worth $13,386,000 after purchasing an additional 75,771 shares during the period. Geode Capital Management LLC increased its holdings in shares of PagerDuty by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after purchasing an additional 37,147 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of PagerDuty in the third quarter valued at about $444,000. 97.26% of the stock is owned by institutional investors.

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.