Traders Purchase High Volume of Put Options on PagerDuty (NYSE:PD)

PagerDuty (NYSE:PD) saw unusually large options trading on Monday. Traders acquired 13,715 put options on the company. This is an increase of 1,008% compared to the typical volume of 1,238 put options.

PagerDuty Stock Up 2.4%

Shares of PD stock opened at $6.40 on Wednesday. PagerDuty has a 12 month low of $6.18 and a 12 month high of $19.70. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.23. The firm has a market cap of $587.30 million, a PE ratio of 4.00, a price-to-earnings-growth ratio of 1.56 and a beta of 0.66. The stock has a 50 day moving average of $10.54 and a 200-day moving average of $13.68.

PagerDuty (NYSE:PD) last announced its quarterly earnings data on Tuesday, November 25th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.09. The business had revenue of $124.55 million for the quarter, compared to the consensus estimate of $124.92 million. PagerDuty had a net margin of 31.12% and a return on equity of 10.27%. PagerDuty’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share. On average, equities analysts predict that PagerDuty will post -0.27 EPS for the current year.

Insider Activity

In related news, Director Dan Alexandru Solomon sold 266,667 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.35, for a total value of $3,560,004.45. Following the completion of the sale, the director owned 2,389,665 shares of the company’s stock, valued at approximately $31,902,027.75. The trade was a 10.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in PagerDuty by 17.1% during the third quarter. Vanguard Group Inc. now owns 12,593,954 shares of the company’s stock worth $208,052,000 after buying an additional 1,840,407 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of PagerDuty by 333.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,450,429 shares of the company’s stock worth $23,961,000 after acquiring an additional 1,115,577 shares during the period. Readystate Asset Management LP acquired a new stake in shares of PagerDuty during the 3rd quarter worth approximately $15,946,000. Alyeska Investment Group L.P. acquired a new stake in shares of PagerDuty during the 3rd quarter worth approximately $13,710,000. Finally, Danske Bank A S bought a new stake in shares of PagerDuty during the third quarter valued at approximately $13,271,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial cut their price objective on PagerDuty from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. TD Cowen reissued a “buy” rating on shares of PagerDuty in a research report on Wednesday, November 26th. Craig Hallum cut shares of PagerDuty from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $20.00 to $15.00 in a research note on Wednesday, November 26th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $19.00 price objective on shares of PagerDuty in a report on Wednesday, November 26th. Finally, Zacks Research downgraded shares of PagerDuty from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.00.

PagerDuty Company 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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.