Allspring Global Investments Holdings LLC Sells 1,066,873 Shares of Dynatrace, Inc. (NYSE:DT)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Dynatrace, Inc. (NYSE:DT - Free Report) by 50.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,043,650 shares of the company's stock after selling 1,066,873 shares during the period. Allspring Global Investments Holdings LLC owned 0.35% of Dynatrace worth $49,918,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of DT. Mn Services Vermogensbeheer B.V. grew its holdings in Dynatrace by 5.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 113,400 shares of the company's stock worth $6,163,000 after purchasing an additional 5,700 shares during the period. Proficio Capital Partners LLC bought a new position in Dynatrace during the fourth quarter worth about $1,057,000. Versor Investments LP bought a new stake in shares of Dynatrace during the fourth quarter worth approximately $533,000. QRG Capital Management Inc. boosted its holdings in shares of Dynatrace by 16.9% during the fourth quarter. QRG Capital Management Inc. now owns 64,099 shares of the company's stock worth $3,484,000 after acquiring an additional 9,251 shares during the period. Finally, Metis Global Partners LLC bought a new stake in shares of Dynatrace during the fourth quarter worth approximately $571,000. Institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DT. Loop Capital reduced their price objective on Dynatrace from $55.00 to $44.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. KeyCorp began coverage on Dynatrace in a report on Tuesday, June 10th. They set an "overweight" rating and a $69.00 price objective for the company. Royal Bank Of Canada boosted their price objective on Dynatrace from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Rosenblatt Securities restated a "buy" rating and set a $67.00 price objective on shares of Dynatrace in a report on Tuesday, May 13th. Finally, UBS Group boosted their price objective on Dynatrace from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.26.

Dynatrace Price Performance

Shares of DT opened at $54.85 on Monday. Dynatrace, Inc. has a one year low of $39.30 and a one year high of $63.00. The company has a market cap of $16.44 billion, a P/E ratio of 34.28, a P/E/G ratio of 4.80 and a beta of 0.92. The firm has a 50 day simple moving average of $51.75 and a two-hundred day simple moving average of $52.44.

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

Insider Transactions at Dynatrace

In other news, EVP Dan Zugelder sold 15,824 shares of the company's stock in a transaction on 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 transaction, the executive vice president now directly owns 17,242 shares in the company, valued at approximately $940,033.84. This represents a 47.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.59% of the company's stock.

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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