William Blair Exits PagerDuty Stake as of Dec 31, 2023

TL;DR

**William Blair sold all its PagerDuty shares, signaling a complete exit.**

AI Summary

William Blair Investment Management, LLC, a Delaware-organized investment firm, filed an amended SC 13G/A on February 12, 2024, indicating a significant change in their ownership of PagerDuty, Inc. common stock. As of December 31, 2023, William Blair reported owning 0 shares with both sole and shared voting and dispositive power, a decrease from their previous holdings. This matters to investors because a major institutional investor has completely divested its stake, which could signal a loss of confidence or a strategic portfolio reallocation.

Why It Matters

This filing shows that a significant institutional investor, William Blair Investment Management, LLC, no longer holds any shares in PagerDuty, Inc., which could be interpreted negatively by the market.

Risk Assessment

Risk Level: medium — The complete divestment by an institutional investor could indicate a perceived lack of future growth or increased risk, potentially impacting investor sentiment.

Analyst Insight

A smart investor would investigate the reasons behind William Blair's complete divestment from PagerDuty, Inc. and consider if this signals underlying issues before making new investment decisions or holding existing shares.

Key Numbers

• 0 — Shares Beneficially Owned (William Blair Investment Management, LLC now owns zero shares of PagerDuty, Inc.)
• December 31, 2023 — Reporting Date (This is the date as of which William Blair's ownership was reported.)

Key Players & Entities

• William Blair Investment Management, LLC (company) — the reporting person who filed the SC 13G/A
• PagerDuty, Inc. (company) — the issuer whose common stock is being reported
• Delaware (company) — state of organization for William Blair Investment Management, LLC
• December 31, 2023 (date) — the date of the event requiring the filing
• 0 (dollar_amount) — number of shares beneficially owned by William Blair

Forward-Looking Statements

• PagerDuty's stock price may experience short-term negative pressure due to the institutional divestment. (PagerDuty, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in PagerDuty following William Blair's exit. (Institutional Investors) — low confidence, target: Q2 2024

FAQ

Filing Documents

• tm245766d20_sc13ga.htm (SC 13G/A) — 52KB
• 0001104659-24-015413.txt ( ) — 53KB

(a)

Item 1(a). Name of Issuer: PagerDuty, Inc.

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 600 Townsend Street #200, San Francisco, CA 94103

(a)

Item 2(a). Name of Person Filing: William Blair Investment Management, LLC

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: 150 North Riverside Plaza, Chicago, IL 60606

(c)

Item 2(c). Citizenship: Delaware

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 69553P100 Item 3. If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) o Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) o Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) o Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) x An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); (g) o A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); (j) o A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J); (k) o Group, in accordance with § 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____________. CUSIP: 69553P100 Page 4 Item 4. Ownership: Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 0 (b) Percent of class: 0.0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class: If this