Concentric Capital Strategies LP Has $1.40 Million Holdings in Dynatrace, Inc. $DT

Key Points

• Concentric Capital Strategies LP reduced its stake in Dynatrace, Inc. by 53.1%, selling 33,562 shares and leaving it with 29,594 shares valued at approximately $1.4 million.
• Several institutional investors, including Amundi, have increased their stakes in Dynatrace, with 94.28% of the stock now owned by hedge funds and institutional investors.
• Dynatrace's stock has seen multiple price target adjustments from analysts, with Barclays raising theirs to $62.00 and a consensus rating of "Moderate Buy" with a target price estimated at $62.72.

Concentric Capital Strategies LP decreased its position in Dynatrace, Inc. (NYSE:DT - Free Report) by 53.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,594 shares of the company's stock after selling 33,562 shares during the period. Concentric Capital Strategies LP's holdings in Dynatrace were worth $1,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DT. Dragoneer Investment Group LLC acquired a new position in Dynatrace during the fourth quarter worth about $242,380,000. Ameriprise Financial Inc. raised its position in Dynatrace by 146.4% during the first quarter. Ameriprise Financial Inc. now owns 2,728,251 shares of the company's stock worth $128,638,000 after acquiring an additional 1,621,136 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Dynatrace by 53.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,895,262 shares of the company's stock worth $211,707,000 after acquiring an additional 1,350,794 shares during the last quarter. Nuveen LLC acquired a new position in Dynatrace during the first quarter worth about $53,036,000. Finally, Goldman Sachs Group Inc. raised its position in Dynatrace by 14.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,768,711 shares of the company's stock worth $413,445,000 after acquiring an additional 1,124,207 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Activity at Dynatrace

In other news, CAO Daniel S. Yates sold 2,000 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $49.89, for a total value of $99,780.00. Following the sale, the chief accounting officer owned 22,555 shares in the company, valued at approximately $1,125,268.95. The trade was a 8.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.57% of the company's stock.

Dynatrace Price Performance

DT traded down $0.16 during midday trading on Monday, hitting $49.84. 5,691,945 shares of the company's stock traded hands, compared to its average volume of 3,061,737. 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 $15.03 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 4.40 and a beta of 0.91. The stock's fifty day simple moving average is $51.48 and its 200-day simple moving average is $50.87.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DT. BMO Capital Markets cut their target price on shares of Dynatrace from $63.00 to $62.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. KeyCorp began coverage on shares of Dynatrace in a research report on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 price objective for the company. Citigroup cut their price objective on shares of Dynatrace from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Royal Bank Of Canada boosted their price objective on shares of Dynatrace from $60.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Dynatrace in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Dynatrace presently has a consensus rating of "Moderate Buy" and a consensus price target 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.