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 8.57% valued currently at $235.41 million. In addition, ClearBridge Investments LLC raised its holdings by 0.24 million to 3.88 million shares.
With over 1.43 million PagerDuty Inc. (PD) shares trading Monday and a closing price of $28.93 on the day, the dollar volume was approximately $41.38 million. The shares have shown a positive half year performance of 28.35% and its price on 05/22/23 gained nearly 0.77%. Currently, there are 90.28M 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: 10 analysts who have offered their price forecasts for PD have a consensus price objective of $35.00. 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 16.24% above its recent price level and an upside to the estimated low will see the stock gain 3.57% over that period. But an upside of 25.82% will see the stock hit the forecast high price target while median target price for the stock is $35.00.
Insiders at the company have transacted a total of 146 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 44 of these insider trades were purchases, accounting for 1,941,940 shares. Insider sales of the common stock occurred on 102 occasions, with total insider shares sold totaling 1,752,903 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 7.18 million shares of the company’s stock, all valued at over $215.76 million. The company bought an additional 11550.0 shares recently to bring their total holdings to about 7.86% of the shares outstanding. ClearBridge Small Cap Growth Fund bought 0.15 million shares to see its total holdings expand to 3.1 million shares valued at over $93.08 million and representing 3.39% 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 $82.03 million. Nikko AM Global Umbrella Fund – A now owns shares totaling to 2.99% of the shares outstanding.
Shares of PagerDuty Inc. (NYSE: PD) opened at $28.68, down -$0.03 from a prior closing price of $28.71. However, the script later moved the day high at 29.12, up 0.77%. The company’s stock has a 5-day price change of -1.57% and -1.83% over the past three months. PD shares are trading 8.92% year to date (YTD), with the 12-month market performance up to 21.30% higher. It has a 12-month low price of $19.51 and touched a high of $35.33 over the same period. PD has an average intraday trading volume of 1.31 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 -2.23%, -7.08%, and 6.91% respectively.
Institutional ownership of PagerDuty Inc. (NYSE: PD) shares accounts for 88.30% of the company’s 90.28M shares outstanding. Mutual fund holders own 34.44%, while other institutional holders and individual stakeholders account for 50.37% and 29.29% respectively.
It has a market capitalization of $2.73B and a beta (3y monthly) value of 0.93. The earnings-per-share (ttm) stands at -$1.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.81% over the week and 3.02% over the month.
Analysts forecast that PagerDuty Inc. (PD) will achieve an EPS of $0.09 for the current quarter, $0.09 for the next quarter and $0.65 for 2025. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.80%, and 42.67% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to -28.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate PagerDuty Inc. (PD) as a “Strong Buy” at a consensus score of 1.80. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 2 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
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