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

Shares of PagerDuty, Inc. (NYSE:PD) gapped down before the market opened 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 trading hands.

Specifically, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of research firms recently weighed in on PD. Royal Bank of Canada raised their target price on shares of PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $23.00 to $18.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 price objective on shares of PagerDuty in a research note on Wednesday, December 11th. Two research 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. Based on data from MarketBeat, PagerDuty currently has a consensus rating of “Hold” and a consensus price target of $21.64.

PagerDuty Trading Up 0.6 %

The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The company’s 50-day moving average is $19.23 and its 200 day moving average is $19.06.

Institutional Trading of PagerDuty

Institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in shares of PagerDuty by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 123,247 shares of the company’s stock valued at $2,826,000 after purchasing an additional 542 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of PagerDuty by 1.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company’s stock worth $1,083,000 after acquiring an additional 819 shares during the period. Mackenzie Financial Corp boosted its position in shares of PagerDuty by 5.1% during the 2nd quarter. Mackenzie Financial Corp now owns 17,735 shares of the company’s stock valued at $407,000 after acquiring an additional 856 shares during the last quarter. Quarry LP increased its position in PagerDuty by 1,537.2% during the second quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock worth $76,000 after purchasing an additional 1,594 shares during the period. 97.26% of the stock is owned by institutional investors and hedge funds.

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.