Pagerduty Inc (NYSE:PD)’s share price dropped 6.4% on Monday . The company traded as low as $24.30 and last traded at $24.39, approximately 1,014,110 shares changed hands during mid-day trading. An increase of 35% from the average daily volume of 749,166 shares. The stock had previously closed at $26.05.

PD has been the subject of a number of research reports. TD Securities raised shares of Pagerduty to a “top pick” rating and lowered their price target for the company from $5.00 to $4.50 in a report on Wednesday, September 4th. Zacks Investment Research lowered shares of Pagerduty from a “hold” rating to a “sell” rating in a report on Saturday, November 16th. ValuEngine lowered shares of Pagerduty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Robert W. Baird initiated coverage on shares of Pagerduty in a report on Monday, October 14th. They set an “outperform” rating and a $31.00 target price for the company. Finally, Royal Bank of Canada set a $49.00 target price on shares of Pagerduty and gave the stock a “buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Pagerduty has a consensus rating of “Buy” and an average price target of $34.48.

The business’s fifty day simple moving average is $24.56 and its 200 day simple moving average is $37.52.

Pagerduty (NYSE:PD) last released its earnings results on Thursday, September 5th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $40.40 million for the quarter, compared to analyst estimates of $39.12 million. The firm’s revenue was up 45.8% on a year-over-year basis. As a group, equities research analysts predict that Pagerduty Inc will post -0.76 earnings per share for the current year.

In other news, VP Steven Chung sold 50,000 shares of Pagerduty stock in a transaction on Monday, October 14th. The shares were sold at an average price of $26.51, for a total transaction of $1,325,500.00. Over the last three months, insiders have sold 101,000 shares of company stock worth $2,654,760.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD bought a new stake in Pagerduty in the 2nd quarter valued at $164,467,000. Vanguard Group Inc. bought a new stake in Pagerduty in the 2nd quarter valued at $51,931,000. JPMorgan Chase & Co. bought a new stake in Pagerduty in the 2nd quarter valued at $30,808,000. BlackRock Inc. bought a new stake in Pagerduty in the 2nd quarter valued at $29,470,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Pagerduty by 96.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,528 shares of the company’s stock valued at $18,660,000 after acquiring an additional 324,166 shares in the last quarter. 54.00% of the stock is currently owned by institutional investors.

About Pagerduty (NYSE:PD)

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

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