Sumitomo Mitsui Trust Group Inc. Has $61.44 Million Holdings in PagerDuty, Inc. (NYSE:PD)

Sumitomo Mitsui Trust Group Inc. reduced its stake in PagerDuty, Inc. (NYSE:PD) by 10.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,364,565 shares of the company’s stock after selling 374,238 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PagerDuty were worth $61,437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in shares of PagerDuty by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,347 shares of the company’s stock valued at $1,154,000 after purchasing an additional 1,820 shares during the period. SG Americas Securities LLC grew its holdings in shares of PagerDuty by 339.0% during the third quarter. SG Americas Securities LLC now owns 28,303 shares of the company’s stock worth $525,000 after buying an additional 21,856 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in PagerDuty by 67.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 16,524 shares of the company’s stock valued at $307,000 after buying an additional 6,671 shares during the last quarter. nVerses Capital LLC bought a new stake in PagerDuty in the 3rd quarter valued at approximately $176,000. Finally, Blue Trust Inc. lifted its stake in PagerDuty by 33.7% in the 3rd quarter. Blue Trust Inc. now owns 11,858 shares of the company’s stock valued at $220,000 after acquiring an additional 2,986 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PD. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Royal Bank of Canada lifted their price target on shares of PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 price objective on shares of PagerDuty in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, PagerDuty currently has a consensus rating of “Hold” and an average price target of $21.64.

PagerDuty Stock Performance

Shares of PD opened at $19.07 on Monday. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a 50-day moving average of $18.99 and a 200-day moving average of $18.97. The company has a market cap of $1.72 billion, a PE ratio of -23.84 and a beta of 1.13. PagerDuty, Inc. has a one year low of $16.46 and a one year high of $25.47.

Insider Activity at PagerDuty

In related news, CEO Jennifer Tejada sold 18,750 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $20.04, for a total value of $375,750.00. Following the sale, the chief executive officer now owns 907,631 shares in the company, valued at approximately $18,188,925.24. This represents a 2.02 % 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, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction on 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 directly owns 199,122 shares of the company’s stock, 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. In the last ninety days, insiders sold 41,298 shares of company stock worth $813,949. Insiders own 7.60% of the company’s stock.

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.