Firsthand Capital Management Inc. Grows Holdings in PagerDuty, Inc. (NYSE:PD)

Firsthand Capital Management Inc. lifted its position in shares of PagerDuty, Inc. (NYSE:PD) by 8,900.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 90,000 shares of the company’s stock after purchasing an additional 89,000 shares during the period. PagerDuty accounts for 3.3% of Firsthand Capital Management Inc.’s portfolio, making the stock its 14th biggest position. Firsthand Capital Management Inc.’s holdings in PagerDuty were worth $1,670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Quarry LP boosted 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 in the last quarter. First Horizon Advisors Inc. grew its stake in PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after acquiring an additional 508 shares during the period. Fred Alger Management LLC increased its holdings in PagerDuty by 170.6% in 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 in the last quarter. Cambridge Trust Co. acquired a new position in PagerDuty during the first quarter worth $68,000. Finally, Headlands Technologies LLC purchased a new position in PagerDuty during the second quarter valued at $114,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PagerDuty news, CAO Mitra Rezvan sold 2,942 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction of $53,132.52. Following the transaction, the chief accounting officer now directly owns 108,449 shares in the company, valued at $1,958,588.94. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.04, for a total value of $375,750.00. Following the completion of the sale, the chief executive officer now directly owns 907,631 shares of the company’s stock, valued at $18,188,925.24. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,396 shares of company stock valued at $1,733,561 over the last quarter. 7.60% of the stock is owned by insiders.

PagerDuty Trading Up 1.1 %

Shares of PD stock opened at $21.24 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38. PagerDuty, Inc. has a twelve month low of $16.46 and a twelve month high of $26.70. The company’s 50-day moving average price is $18.87 and its 200-day moving average price is $19.61. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -26.55 and a beta of 1.07.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $115.94 million during the quarter, compared to analysts’ expectations of $116.52 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 20.13%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. As a group, equities analysts predict that PagerDuty, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PD has been the subject of a number of research reports. Bank of America cut their target price on shares of PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. The Goldman Sachs Group reduced their target price on PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Robert W. Baird lowered their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on PagerDuty from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Canaccord Genuity Group dropped their target price on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.00.

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.