Allspring Global Investments Holdings LLC Sells 21,509 Shares of Dynatrace, Inc. $DT

Key Points

• Allspring Global Investments Holdings LLC reduced its position in Dynatrace, Inc. by 2.1%, selling 21,509 shares, and now owns approximately 1,022,141 shares valued at $55,615,000.
• Analysts have mixed ratings on Dynatrace, with one maintaining a Strong Buy while others have lowered price targets, resulting in an average target price of $62.96.
• Insider transactions included significant share sales by executive vice president Dan Zugelder and director Lisa M. Campbell, indicating noteworthy activity among corporate insiders.

Allspring Global Investments Holdings LLC reduced its position in shares of Dynatrace, Inc. (NYSE:DT - Free Report) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,022,141 shares of the company's stock after selling 21,509 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.34% of Dynatrace worth $55,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Dynatrace by 79.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,987,838 shares of the company's stock worth $329,477,000 after purchasing an additional 3,092,576 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Dynatrace by 146.4% in the 1st quarter. Ameriprise Financial Inc. now owns 2,728,251 shares of the company's stock valued at $128,638,000 after acquiring an additional 1,621,136 shares during the last quarter. Nuveen LLC bought a new stake in shares of Dynatrace in the 1st quarter valued at about $53,036,000. Goldman Sachs Group Inc. increased its stake in shares of Dynatrace by 14.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,768,711 shares of the company's stock valued at $413,445,000 after acquiring an additional 1,124,207 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in shares of Dynatrace by 53.2% in the 2nd quarter. Congress Asset Management Co. now owns 3,118,815 shares of the company's stock valued at $172,190,000 after acquiring an additional 1,082,413 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets lowered their price target on Dynatrace from $63.00 to $62.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Dynatrace from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Royal Bank Of Canada boosted their price target on shares of Dynatrace from $60.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Citigroup decreased their price target on shares of Dynatrace from $68.00 to $64.00 and set a "buy" rating for the company in a report on Monday, August 18th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $67.00 price target on shares of Dynatrace in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.96.

Insider Transactions at Dynatrace

In other news, EVP Dan Zugelder sold 7,503 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $50.00, for a total transaction of $375,150.00. Following the completion of the transaction, the executive vice president directly owned 1,420 shares of the company's stock, valued at $71,000. This trade represents a 84.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa M. Campbell sold 1,013 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $49.77, for a total transaction of $50,417.01. Following the transaction, the director directly owned 1,012 shares of the company's stock, valued at $50,367.24. This represents a 50.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,602 shares of company stock valued at $529,579 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Dynatrace Stock Performance

NYSE DT opened at $48.17 on Wednesday. The business has a 50 day simple moving average of $48.78 and a 200 day simple moving average of $50.16. Dynatrace, Inc. has a 52-week low of $39.30 and a 52-week high of $63.00. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 4.26 and a beta of 0.88.

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

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.

Want to see what other hedge funds are holding DT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dynatrace, Inc. (NYSE:DT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.