The Vanguard Group, Inc. recently announced the acquisition of new stake in PagerDuty Inc. (NYSE:PD). The institutional investor has increased its shareholding in the Technology company by 7.86% to 7.83 million shares with purchase of 0.57 million shares. This fresh investment now brings its stake to 8.70% valued currently at $233.85 million. In addition, BlackRock Fund Advisors raised its holdings by 0.21 million to 5.92 million shares. And William Blair Investment Manageme has lifted its position by 11.86% or 0.52 million shares – to 4.91 million shares.
With over 2.24 million PagerDuty Inc. (PD) shares trading Monday and a closing price of $28.39 on the day, the dollar volume was approximately $63.56 million. The shares have shown a positive half year performance of 12.66% and its price on 03/13/23 gained nearly 5.70%. Currently, there are 89.28M common shares owned by the public and among those 82.19M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for PD have a consensus price objective of $32.88. The analysts have set the share’s price value over the next 12 months at a high of $39.00 and a low of $30.00. The average price target is 17.21% above its recent price level and an upside to the estimated low will see the stock gain 5.37% over that period. But an upside of 27.21% will see the stock hit the forecast high price target while median target price for the stock is $32.00.
Insiders at the company have transacted a total of 148 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 2,144,898 shares. Insider sales of the common stock occurred on 101 occasions, with total insider shares sold totaling 1,621,189 shares.
The top 3 mutual fund holders in PagerDuty Inc. are ARK Innovation ETF, ClearBridge Small Cap Growth Fund, and Nikko AM Global Umbrella Fund – A. ARK Innovation ETF owns 7.5 million shares of the company’s stock, all valued at over $224.01 million. The company sold -0.14 million shares recently to bring their total holdings to about 8.34% of the shares outstanding. Nikko AM Global Umbrella Fund – A sold -0.5 million shares to bring its total holdings to over 2.73 million shares at a value of $81.49 million. Nikko AM Global Umbrella Fund – A now owns shares totaling to 3.03% of the shares outstanding.
Shares of PagerDuty Inc. (NYSE: PD) opened at $26.59, down -$0.27 from a prior closing price of $26.86. However, the script later moved the day high at 29.38, up 5.70%. The company’s stock has a 5-day price change of -7.22% and 18.24% over the past three months. PD shares are trading 6.89% year to date (YTD), with the 12-month market performance down to -3.70% lower. It has a 12-month low price of $19.51 and touched a high of $38.75 over the same period. PD has an average intraday trading volume of 1.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.56%, -0.62%, and 10.29% respectively.
Institutional ownership of PagerDuty Inc. (NYSE: PD) shares accounts for 88.30% of the company’s 89.28M shares outstanding. Mutual fund holders own 35.04%, while other institutional holders and individual stakeholders account for 51.52% and 29.25% respectively.
It has a market capitalization of $2.74B and a beta (3y monthly) value of 0.91. The earnings-per-share (ttm) stands at -$1.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.89% over the week and 4.74% over the month.
Analysts forecast that PagerDuty Inc. (PD) will achieve an EPS of $0.02 for the current quarter, $0.03 for the next quarter and $0.2 for 2024. The lowest estimate earnings-per-share for the quarter is $0.01 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -46.90%, and 2100.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate PagerDuty Inc. (PD) as a “Strong Buy” at a consensus score of 1.80. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 2 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PD, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on January 20, 2023, with the firm’s price target at $32-$36. Credit Suisse coverage for the PagerDuty Inc. (PD) stock in a research note released on September 23, 2022 offered a Outperform rating with a price target of $32. Monness Crespi & Hardt was of a view on August 12, 2022 that the stock is Neutral, while Canaccord Genuity gave the stock Buy rating on July 07, 2022, issuing a price target of $32. Monness Crespi & Hardt on their part issued Buy rating on March 14, 2022.
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