Dynatrace (NYSE:DT) Stock Price Down 4.9% - Here's Why

Dynatrace, Inc. (NYSE:DT - Get Free Report)'s share price was down 4.9% during trading on Thursday . The company traded as low as $53.54 and last traded at $53.43. Approximately 1,454,800 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 2,981,640 shares. The stock had previously closed at $56.19.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DT. Royal Bank Of Canada raised their price objective on Dynatrace from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Bank of America raised their price target on Dynatrace from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. The Goldman Sachs Group upped their price objective on shares of Dynatrace from $56.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wall Street Zen lowered shares of Dynatrace from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $67.00 target price on shares of Dynatrace in a research report on Tuesday, May 13th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.26.

Dynatrace Trading Down 6.0%

The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 4.85 and a beta of 0.91. The stock has a 50-day moving average price of $53.44 and a 200 day moving average price of $52.55.

Dynatrace (NYSE:DT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. Dynatrace had a return on equity of 9.08% and a net margin of 28.47%. The business had revenue of $445.17 million during the quarter, compared to analysts' expectations of $435.14 million. During the same period in the previous year, the business earned $0.30 earnings per share. The business's revenue was up 16.9% compared to the same quarter last year. Equities research analysts anticipate that Dynatrace, Inc. will post 0.68 earnings per share for the current year.

Insider Activity

In other news, EVP Dan Zugelder sold 15,824 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $54.52, for a total transaction of $862,724.48. Following the completion of the sale, the executive vice president owned 17,242 shares of the company's stock, valued at $940,033.84. The trade was a 47.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dynatrace

Several institutional investors have recently bought and sold shares of DT. Exchange Traded Concepts LLC raised its holdings in shares of Dynatrace by 3.4% during the second quarter. Exchange Traded Concepts LLC now owns 19,760 shares of the company's stock valued at $1,091,000 after acquiring an additional 654 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Dynatrace by 11.9% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 111,900 shares of the company's stock worth $6,178,000 after purchasing an additional 11,900 shares in the last quarter. Swedbank AB raised its stake in Dynatrace by 43.9% in the 2nd quarter. Swedbank AB now owns 179,426 shares of the company's stock valued at $9,906,000 after purchasing an additional 54,700 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Dynatrace by 2.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 115,398 shares of the company's stock valued at $6,371,000 after purchasing an additional 3,017 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Dynatrace by 4.0% during the 2nd quarter. Parallel Advisors LLC now owns 21,014 shares of the company's stock worth $1,160,000 after purchasing an additional 807 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

About Dynatrace

Dynatrace, Inc provides a security platform for multicloud environments in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates Dynatrace, a security platform, which provides application and microservices monitoring, runtime application security, infrastructure monitoring, log management and analytics, digital experience monitoring, digital business analytics, and cloud automation.

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