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

PagerDuty (NYSE:PD) saw some unusual options trading on Thursday. Stock traders purchased 4,049 put options on the company. This represents an increase of 323% compared to the typical daily volume of 958 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of PagerDuty from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. UBS Group set a $13.50 price objective on shares of PagerDuty in a research note on Wednesday, August 26th. Wall Street Zen lowered shares of PagerDuty from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Morgan Stanley increased their target price on shares of PagerDuty from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Friday, August 28th. Finally, Canaccord Genuity Group raised their price target on shares of PagerDuty from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 28th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.56.

PagerDuty Price Performance

Shares of NYSE:PD traded up $0.15 on Thursday, hitting $15.25. The company’s stock had a trading volume of 537,354 shares, compared to its average volume of 2,374,379. The company has a market capitalization of $1.20 billion, a PE ratio of 7.63, a PEG ratio of 2.31 and a beta of 0.96. The company has a debt-to-equity ratio of 1.71, a current ratio of 2.02 and a quick ratio of 2.02. The company has a 50-day simple moving average of $12.72 and a 200 day simple moving average of $9.60. PagerDuty has a 1 year low of $5.70 and a 1 year high of $16.77.

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

Insider Activity

In related news, insider Jennifer Tejada sold 8,000 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $15.00, for a total transaction of $120,000.00. Following the sale, the insider owned 1,670,251 shares of the company’s stock, valued at approximately $25,053,765. This represents a 0.48% decrease in their position. 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. Insiders own 6.00% of the company’s stock.

Institutional Trading of PagerDuty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new stake in shares of PagerDuty during the 2nd quarter worth $161,000. Integrated Wealth Concepts LLC purchased a new stake in PagerDuty during the second quarter valued at about $105,000. IFP Advisors Inc raised its position in PagerDuty by 68.8% during the second quarter. IFP Advisors Inc now owns 2,862 shares of the company’s stock valued at $28,000 after purchasing an additional 1,166 shares in the last quarter. Allworth Financial LP lifted its stake in PagerDuty by 92.7% during the second quarter. Allworth Financial LP now owns 9,549 shares of the company’s stock worth $92,000 after purchasing an additional 4,593 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of PagerDuty in the 2nd quarter worth about $114,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.