Sumitomo Mitsui Trust Group Inc. Decreases Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Sumitomo Mitsui Trust Group Inc. lowered its stake in PagerDuty, Inc. (NYSE:PD) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,738,803 shares of the company’s stock after selling 169,300 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 4.02% of PagerDuty worth $69,355,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PD. Quarry LP increased its position in shares of 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. First Horizon Advisors Inc. raised its position in PagerDuty by 28.0% in the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after acquiring an additional 508 shares during the period. Fred Alger Management LLC boosted its stake in shares of PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after acquiring an additional 1,578 shares during the last quarter. Cambridge Trust Co. bought a new stake in shares of PagerDuty during the 1st quarter valued at $68,000. Finally, Headlands Technologies LLC purchased a new stake in shares of PagerDuty in the 2nd quarter worth $114,000. Institutional investors own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

PD has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. 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 research note on Wednesday, September 4th. TD Cowen reduced their target price on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada lowered their price target on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Scotiabank reduced their price objective on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.82.

Insider Activity

In other PagerDuty news, CFO Howard Wilson sold 21,066 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.02, for a total transaction of $421,741.32. Following the sale, the chief financial officer now directly owns 545,742 shares in the company, valued at $10,925,754.84. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jennifer Tejada sold 18,750 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the sale, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at $20,308,197.49. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,146 shares of company stock worth $2,110,248. 7.60% of the stock is currently owned by insiders.

PagerDuty Stock Down 2.2 %

Shares of PD stock opened at $19.60 on Friday. The company’s fifty day simple moving average is $18.35 and its two-hundred day simple moving average is $19.63. PagerDuty, Inc. has a 52 week low of $16.46 and a 52 week high of $26.70. The stock has a market cap of $1.82 billion, a P/E ratio of -22.02 and a beta of 1.07. 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 (NYSE:PD) last posted its earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) earnings per share. Analysts predict that PagerDuty, Inc. will post -0.37 EPS for the current fiscal year.

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.