The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PagerDuty Inc. shares valued at $2,290,520 were sold by Tejada Jennifer on Feb 09. At $30.54 per share, Tejada Jennifer sold 75,000 shares. The insider’s holdings dropped to 602,610 shares worth approximately $17.81 million following the completion of this transaction.
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Also, WEBB SHELLEY sold 1,983 shares, netting a total of over 59,589 in proceeds. Following the sale of shares at $30.05 each, the insider now holds 138,940 shares.
Before that, Wilson Howard had sold 20,000 shares from its account. In a trade valued at $590,479, the Chief Financial Officer traded PagerDuty Inc. shares for $29.52 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $13.69 million.
As published in a research note from Morgan Stanley on January 20, 2023, PagerDuty Inc. [PD] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $36 from $32. This represents a 17.89% premium over Thursday’s closing price. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in late September. As of August 12, 2022, Monness Crespi & Hardt has decreased its “Buy” rating to a “Neutral” for PD. Earlier on July 07, 2022, Canaccord Genuity initiated its rating. Their recommendation was “a Buy” for PD stock.
Analyzing PD Stock Performance
On Thursday, PagerDuty Inc. [NYSE: PD] plunged -0.20% to $29.56. The stock’s lowest price that day was $28.79, but it reached a high of $30.60 in the same session. During the last five days, there has been a drop of approximately -6.46%. Over the course of the year, PagerDuty Inc. shares have jumped approximately 11.30%. Shares of the company reached a 52-week high of $33.77 on 02/02/23 and a 52-week low of $23.06 on 01/06/23. A 50-day SMA is recorded $27.88, while a 200-day SMA reached $25.44. Nevertheless, trading volume fell to 0.89 million shares from 1.06 million shares the previous day.
Support And Resistance Levels for PagerDuty Inc. (PD)
According to the 24-hour chart, there is a support level at 28.70, which, if violated, would cause prices to drop to 27.84. In the upper region, resistance lies at 30.51. The next price resistance is at 31.46. RSI (Relative Strength Index) is 51.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.76, which suggests the price will decrease in the coming days. Percent R is at 78.53%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is PagerDuty Inc. subject to short interest?
Stocks of PagerDuty Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.77 million shares to 6.17 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.4 million shares. A jump of 12.48% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.19.
Which companies own the most shares of PagerDuty Inc. (PD)?
According to ARK Investment Management LLC filings, the company currently owns 10,097,244 shares, which is about 11.22% of the total PD shares outstanding. The investor’s shares have plunged by -724,183 from its previous 13-F filing of 10821427.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $233,297,823. BlackRock Fund Advisors acquire a 3.66% interest valued at $176.34 million while Nikko Asset Management Americas, sold a -274,941 stake. A total of 520,029 shares of PagerDuty Inc. were sold by William Blair Investment Manageme during the quarter, and 75,000 were bought by RGM Capital LLC. In its current portfolio, Janus Henderson Investors US LLC holds 3,902,034 shares valued at $116.24 million.
In terms of PagerDuty Inc. share price expectations, FactSet research, analysts set an average price target of $32.88 in the next 12 months, up nearly 8.04% from the previous closing price of $29.62. Analysts anticipate PagerDuty Inc. stock to reach $39.00 by 2023, with the lowest price target being $30.00. In spite of this, 11 analysts ranked PagerDuty Inc. stock as a Buy at the end of 2023. On March 14, 2022, Monness Crespi & Hardt assigned a price target of “a Buy” to the stock and reiterated coverage with a $40.