Armistice Capital LLC Takes Position in Dynatrace, Inc. $DT

Key Points

• Armistice Capital LLC has acquired a new stake in Dynatrace, purchasing 250,000 shares valued at approximately $11.8 million, which represents 0.08% of the company's total stock.
• Multiple large investors increased their stakes in Dynatrace during the 1st quarter, indicating strong institutional interest with 94.28% of the company's stock owned by institutional investors.
• Analysts have given Dynatrace a consensus rating of "Moderate Buy", with price targets ranging from $55 to $69, following reports of better-than-expected earnings and revenue growth for the company.

Armistice Capital LLC purchased a new stake in shares of Dynatrace, Inc. (NYSE:DT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 250,000 shares of the company's stock, valued at approximately $11,788,000. Armistice Capital LLC owned approximately 0.08% of Dynatrace as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DT. CX Institutional bought a new stake in Dynatrace in the 1st quarter worth approximately $40,000. Brooklyn Investment Group grew its position in Dynatrace by 761.9% in the 1st quarter. Brooklyn Investment Group now owns 905 shares of the company's stock worth $43,000 after purchasing an additional 800 shares during the period. Opal Wealth Advisors LLC bought a new stake in Dynatrace in the 1st quarter worth approximately $45,000. MassMutual Private Wealth & Trust FSB grew its position in Dynatrace by 35.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 979 shares of the company's stock worth $46,000 after purchasing an additional 256 shares during the period. Finally, Global Financial Private Client LLC grew its position in Dynatrace by 344.0% in the 1st quarter. Global Financial Private Client LLC now owns 1,110 shares of the company's stock worth $52,000 after purchasing an additional 860 shares during the period. Institutional investors own 94.28% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Dynatrace in a research note on Wednesday, May 14th. Morgan Stanley set a $55.00 price target on shares of Dynatrace in a research note on Thursday, May 15th. Wedbush reiterated an "outperform" rating and issued a $67.00 price target on shares of Dynatrace in a research note on Friday, May 16th. Oppenheimer assumed coverage on shares of Dynatrace in a research note on Wednesday. They issued an "outperform" rating and a $65.00 price target on the stock. Finally, KeyCorp assumed coverage on shares of Dynatrace in a research note on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently 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 company'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 transaction, the executive vice president directly owned 17,242 shares in the company, valued at approximately $940,033.84. This represents a 47.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company's stock.

Dynatrace Trading Down 0.6%

Shares of NYSE DT opened at $50.59 on Friday. The firm's 50-day moving average price is $51.95 and its 200-day moving average price is $51.34. The stock has a market capitalization of $15.25 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 4.39 and a beta of 0.91. Dynatrace, Inc. has a 12-month low of $39.30 and a 12-month high of $63.00.

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, beating the consensus estimate of $0.38 by $0.04. The company 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 firm's revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. On average, equities analysts predict that Dynatrace, Inc. will post 0.68 EPS for the current fiscal year.

Dynatrace Company 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.

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.