ARK Investment Management LLC Sells 754,877 Shares of PagerDuty, Inc. (NYSE:PD)

ARK Investment Management LLC lessened its position in shares of PagerDuty, Inc. (NYSE:PD) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,996,347 shares of the company’s stock after selling 754,877 shares during the period. PagerDuty accounts for 1.4% of ARK Investment Management LLC’s holdings, making the stock its 23rd biggest holding. ARK Investment Management LLC owned about 9.98% of PagerDuty worth $164,273,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in PagerDuty in the fourth quarter valued at $43,000. Quarry LP increased its stake in PagerDuty by 98.3% in the third quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after purchasing an additional 1,384 shares in the last quarter. Fred Alger Management LLC increased its stake in PagerDuty by 63.7% in the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after purchasing an additional 1,594 shares in the last quarter. Point72 DIFC Ltd bought a new stake in PagerDuty in the third quarter valued at $163,000. Finally, Blue Trust Inc. increased its stake in PagerDuty by 24.8% in the fourth quarter. Blue Trust Inc. now owns 14,796 shares of the company’s stock valued at $274,000 after purchasing an additional 2,938 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

PagerDuty Stock Down 0.1 %

PagerDuty stock opened at $18.01 on Wednesday. PagerDuty, Inc. has a fifty-two week low of $16.46 and a fifty-two week high of $25.10. The stock has a market cap of $1.62 billion, a PE ratio of -22.51 and a beta of 1.13. The firm’s 50-day simple moving average is $18.56 and its 200 day simple moving average is $18.87. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PD. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their price objective on shares of PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, PagerDuty presently has a consensus rating of “Hold” and a consensus price target of $21.64.

Insider Buying and Selling

In related news, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shelley Webb sold 7,879 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,548 shares of company stock worth $438,199. 7.60% of the stock is owned by insiders.

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.