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

PagerDuty (NYSE:PD) was the recipient of some unusual options trading on Thursday. Stock investors acquired 4,049 put options on the company. This represents an increase of approximately 323% compared to the average daily volume of 958 put options.

PagerDuty Stock Up 2.9%

Shares of NYSE PD opened at $15.53 on Friday. PagerDuty has a 12-month low of $5.70 and a 12-month high of $16.77. The stock’s fifty day simple moving average is $12.86 and its two-hundred day simple moving average is $9.66. The stock has a market capitalization of $1.22 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.71.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. PagerDuty had a return on equity of 18.52% and a net margin of 37.50%.The firm had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $123.27 million. During the same period in the prior year, the business posted $0.30 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. PagerDuty has set its FY 2027 guidance at 1.330-1.370 EPS and its Q3 2027 guidance at 0.340-0.360 EPS. As a group, analysts expect that PagerDuty will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

PD has been the subject of several analyst reports. Truist Financial raised their price objective on shares of PagerDuty from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Canaccord Genuity Group lifted their price target on shares of PagerDuty from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 28th. TD Cowen restated a “buy” rating on shares of PagerDuty in a report on Wednesday, August 26th. Morgan Stanley upped their target price on PagerDuty from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Friday, August 28th. Finally, Wall Street Zen lowered PagerDuty from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.56.

Insider Activity

In related news, insider Jennifer Tejada sold 8,000 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $15.00, for a total value of $120,000.00. Following the sale, the insider owned 1,670,251 shares in the company, valued at approximately $25,053,765. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On PagerDuty

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of PagerDuty in the 2nd quarter worth $7,629,000. Dimensional Fund Advisors LP acquired a new stake in PagerDuty in the first quarter worth about $6,074,000. Glenmede Trust Co. NA increased its holdings in shares of PagerDuty by 35.7% during the first quarter. Glenmede Trust Co. NA now owns 937,505 shares of the company’s stock valued at $5,822,000 after acquiring an additional 246,482 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of PagerDuty in the 2nd quarter valued at approximately $5,642,000. Finally, Pacer Advisors Inc. boosted its stake in PagerDuty by 11.7% in the 4th quarter. Pacer Advisors Inc. now owns 327,807 shares of the company’s stock worth $4,298,000 after purchasing an additional 34,363 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

About PagerDuty

PagerDuty, Inc provides a digital operations management platform designed to help organizations detect, respond to and resolve critical issues across their technology and business operations. Its platform brings together data from applications, infrastructure, cloud environments and other systems to help teams manage incidents and maintain the reliability of digital services.

The company’s offerings include incident management, AIOps, workflow automation and customer service operations capabilities.