Acadian Asset Management LLC Sells 308,379 Shares of Dynatrace, Inc. $DT

Key Points

• Acadian Asset Management LLC significantly reduced its stake in Dynatrace, Inc. by 71.4%, selling 308,379 shares and holding 123,725 shares worth approximately $5.83 million as of the latest SEC filing.
• Other institutional investors have also adjusted their positions, with Keybank National Association OH increasing its holdings by 30% and Bridges Investment Management Inc. expanding its stake by 82.4% during the same period.
• Dynatrace reported earnings that exceeded analysts' expectations, with a revenue increase of 19.5% year-over-year and an earnings per share (EPS) of $0.42, surpassing the consensus estimate of $0.38.

Acadian Asset Management LLC trimmed its stake in Dynatrace, Inc. (NYSE:DT - Free Report) by 71.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,725 shares of the company's stock after selling 308,379 shares during the period. Acadian Asset Management LLC's holdings in Dynatrace were worth $5,830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Keybank National Association OH increased its holdings in Dynatrace by 30.0% during the 1st quarter. Keybank National Association OH now owns 738,230 shares of the company's stock worth $34,808,000 after purchasing an additional 170,380 shares during the period. Bridges Investment Management Inc. increased its holdings in Dynatrace by 82.4% during the 1st quarter. Bridges Investment Management Inc. now owns 24,873 shares of the company's stock worth $1,173,000 after purchasing an additional 11,234 shares during the period. Asset Management One Co. Ltd. increased its holdings in Dynatrace by 4.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 121,613 shares of the company's stock worth $5,734,000 after purchasing an additional 4,697 shares during the period. Teacher Retirement System of Texas purchased a new position in Dynatrace during the 1st quarter worth $2,175,000. Finally, Lecap Asset Management Ltd. purchased a new position in Dynatrace during the 1st quarter worth $3,846,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dynatrace

In related news, Director Lisa M. Campbell sold 1,013 shares of Dynatrace stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $49.77, for a total value of $50,417.01. Following the completion of the transaction, the director owned 1,012 shares in the company, valued at $50,367.24. The trade was a 50.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel S. Yates sold 2,000 shares of Dynatrace stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $49.89, for a total value of $99,780.00. Following the completion of the transaction, the chief accounting officer owned 22,555 shares of the company's stock, valued at approximately $1,125,268.95. This represents a 8.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,099 shares of company stock valued at $154,429 in the last quarter. Company insiders own 0.57% of the company's stock.

Dynatrace Price Performance

Dynatrace stock opened at $49.12 on Friday. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 4.32 and a beta of 0.91. Dynatrace, Inc. has a 1-year low of $39.30 and a 1-year high of $63.00. The business has a fifty day moving average price of $50.85 and a 200-day moving average price of $50.58.

Dynatrace (NYSE:DT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $477.35 million during the quarter, compared to analysts' expectations of $467.39 million. Dynatrace had a return on equity of 9.15% and a net margin of 27.75%.The firm's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. On average, equities research analysts anticipate that Dynatrace, Inc. will post 0.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on DT. Wall Street Zen upgraded Dynatrace from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup reduced their price objective on Dynatrace from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Oppenheimer started coverage on Dynatrace in a report on Wednesday, August 27th. They set an "outperform" rating and a $65.00 price objective on the stock. Guggenheim lifted their price target on Dynatrace from $66.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, KeyCorp started coverage on Dynatrace in a report on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.72.

Dynatrace Profile

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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