Loomis Sayles & Co. L P Has $15 Million Stock Position in PagerDuty, Inc. (NYSE:PD)

Loomis Sayles & Co. L P lifted its position in PagerDuty, Inc. (NYSE:PD) by 33.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,365 shares of the company’s stock after buying an additional 202,382 shares during the period. Loomis Sayles & Co. L P owned about 0.87% of PagerDuty worth $14,995,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP grew its stake in PagerDuty by 1,537.2% in the second quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after acquiring an additional 1,322 shares during the period. First Horizon Advisors Inc. grew its position in shares of 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 purchasing an additional 508 shares during the period. Fred Alger Management LLC increased its stake in PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after purchasing an additional 1,578 shares in the last quarter. Cambridge Trust Co. acquired a new stake in PagerDuty during the 1st quarter worth approximately $68,000. Finally, Headlands Technologies LLC bought a new position in PagerDuty in the second quarter valued at approximately $114,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Insider Activity

In related news, insider Shelley Webb sold 6,246 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the sale, the insider now owns 216,572 shares in the company, valued at approximately $3,924,284.64. This represents a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mitra Rezvan sold 2,942 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total value of $53,132.52. Following the sale, the chief accounting officer now directly owns 108,449 shares of the company’s stock, valued at $1,958,588.94. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,396 shares of company stock valued at $1,733,561. 7.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PD has been the subject of several research reports. Scotiabank lowered their price objective on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 4th. TD Cowen lowered their target price on PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. The Goldman Sachs Group cut their price target on PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Bank of America decreased their price objective on PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut their target price on PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $21.82.

PagerDuty Stock Performance

NYSE:PD opened at $20.91 on Wednesday. PagerDuty, Inc. has a twelve month low of $16.46 and a twelve month high of $26.70. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38. The stock’s 50 day moving average price is $18.68 and its two-hundred day moving average price is $19.59.

PagerDuty (NYSE:PD) last issued its earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) earnings per share. Analysts predict that PagerDuty, Inc. will post -0.37 EPS for the current year.

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.