Ameriprise Financial Inc. Purchases 1,621,136 Shares of Dynatrace, Inc. $DT

Key Points

• Ameriprise Financial Inc. increased its stake in Dynatrace, Inc. by 146.4%, owning approximately 2.73 million shares valued at $128.64 million as of its most recent SEC filing.
• Multiple hedge funds have also significantly increased their holdings in Dynatrace, reflecting growing institutional interest in the company, which now sees 94.28% of its stock owned by institutional investors.
• Dynatrace reported a 19.5% increase in revenue year-over-year, with earnings per share of $0.42, surpassing analysts' expectations.

Ameriprise Financial Inc. raised its position in Dynatrace, Inc. (NYSE:DT - Free Report) by 146.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,728,251 shares of the company's stock after acquiring an additional 1,621,136 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.91% of Dynatrace worth $128,638,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of DT. Coppell Advisory Solutions LLC boosted its stake in Dynatrace by 1,423.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 716 shares of the company's stock worth $39,000 after acquiring an additional 669 shares in the last quarter. CX Institutional bought a new position in shares of Dynatrace in the first quarter worth approximately $40,000. Brooklyn Investment Group lifted its stake in shares of Dynatrace by 761.9% in the first quarter. Brooklyn Investment Group now owns 905 shares of the company's stock worth $43,000 after buying an additional 800 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Dynatrace during the first quarter valued at approximately $45,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Dynatrace by 35.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 979 shares of the company's stock valued at $46,000 after purchasing an additional 256 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Dynatrace Price Performance

Shares of DT traded up $0.76 during midday trading on Thursday, hitting $50.88. The stock had a trading volume of 3,344,957 shares, compared to its average volume of 3,051,008. Dynatrace, Inc. has a 1 year low of $39.30 and a 1 year high of $63.00. The firm has a market cap of $15.34 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 4.18 and a beta of 0.91. The stock's 50 day moving average is $52.12 and its 200 day moving average is $51.56.

Dynatrace (NYSE:DT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $477.35 million for the quarter, compared to the consensus estimate of $467.39 million. Dynatrace had a net margin of 27.75% and a return on equity of 9.15%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, equities research analysts expect that Dynatrace, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on DT. BMO Capital Markets decreased their price objective on shares of Dynatrace from $63.00 to $62.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. The Goldman Sachs Group upped their target price on shares of Dynatrace from $56.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley set a $55.00 target price on shares of Dynatrace in a report on Thursday, May 15th. Rosenblatt Securities reaffirmed a "buy" rating and set a $67.00 target price on shares of Dynatrace in a report on Monday, August 4th. Finally, Citigroup reduced their target price 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.72.

Insider Buying and Selling

In related news, EVP Dan Zugelder sold 15,824 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $54.52, for a total value of $862,724.48. Following the transaction, the executive vice president owned 17,242 shares of the company's stock, valued at $940,033.84. This trade represents a 47.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.57% of the stock is owned by corporate insiders.

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.