PagerDuty (NYSE:PD) Rating Lowered to “Underperform” at Bank of America

Bank of America cut shares of PagerDuty (NYSE:PD) from a buy rating to an underperform rating in a report released on Thursday, MarketBeat.com reports. The firm currently has $18.00 price objective on the stock, down from their previous price objective of $23.00.

Several other analysts also recently issued reports on PD. 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. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.64.

PagerDuty Trading Down 4.7 %

Shares of PD opened at $18.48 on Thursday. The firm’s 50 day moving average price is $19.26 and its two-hundred day moving average price is $19.06. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty has a twelve month low of $16.46 and a twelve month high of $25.47.

Insider Buying and Selling at PagerDuty

In other news, insider Shelley Webb sold 7,879 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the sale, the insider now directly owns 199,122 shares in the company, valued at $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer Tejada sold 12,500 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $20.12, for a total value of $251,500.00. Following the sale, the chief executive officer now owns 907,631 shares of the company’s stock, valued at approximately $18,261,535.72. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,756 shares of company stock worth $2,005,450 over the last 90 days. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

A number of institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in PagerDuty by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 123,247 shares of the company’s stock worth $2,826,000 after purchasing an additional 542 shares during the period. Point72 Asset Management L.P. increased its position in PagerDuty by 1.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company’s stock valued at $1,083,000 after buying an additional 819 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of PagerDuty by 5.1% in the 2nd quarter. Mackenzie Financial Corp now owns 17,735 shares of the company’s stock worth $407,000 after purchasing an additional 856 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of PagerDuty by 6.0% during the second quarter. Hsbc Holdings PLC now owns 16,589 shares of the company’s stock worth $380,000 after acquiring an additional 935 shares in the last quarter. Finally, Quarry LP boosted its stake in PagerDuty by 1,537.2% during 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 during the last quarter. 97.26% of the stock is currently 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.