Cinctive Capital Management LP Acquires 230,465 Shares of Dynatrace, Inc. $DT

Key Points

• Cinctive Capital Management LP increased its holdings in Dynatrace, Inc. by 120.5% during the 1st quarter, owning 421,763 shares after purchasing 230,465 additional shares.
• Dynatrace posted a 19.5% year-over-year revenue increase, reporting $477.35 million for the quarter, alongside $0.42 earnings per share that exceeded expectations.
• Analysts have raised their price targets for Dynatrace, with recent upgrades from several firms, setting a consensus price target of $62.72 and a majority rating of "Moderate Buy."

Cinctive Capital Management LP grew its position in shares of Dynatrace, Inc. (NYSE:DT - Free Report) by 120.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 421,763 shares of the company's stock after acquiring an additional 230,465 shares during the quarter. Dynatrace accounts for 1.5% of Cinctive Capital Management LP's holdings, making the stock its 12th biggest position. Cinctive Capital Management LP owned approximately 0.14% of Dynatrace worth $19,886,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Curi RMB Capital LLC boosted its position in Dynatrace by 2.0% during the 1st quarter. Curi RMB Capital LLC now owns 58,157 shares of the company's stock worth $2,742,000 after acquiring an additional 1,125 shares during the last quarter. Banque Transatlantique SA acquired a new position in Dynatrace during the 1st quarter worth approximately $189,000. Amundi boosted its position in Dynatrace by 39.7% during the 1st quarter. Amundi now owns 1,081,621 shares of the company's stock worth $49,387,000 after acquiring an additional 307,192 shares during the last quarter. Graham Capital Management L.P. boosted its position in Dynatrace by 4.4% during the 1st quarter. Graham Capital Management L.P. now owns 70,718 shares of the company's stock worth $3,334,000 after acquiring an additional 2,989 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in Dynatrace during the 1st quarter worth approximately $11,788,000. Institutional investors and hedge funds own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DT. Royal Bank Of Canada increased their price objective on Dynatrace from $60.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Rosenblatt Securities reissued a "buy" rating and issued a $67.00 price objective on shares of Dynatrace in a report on Monday, August 4th. Wall Street Zen downgraded Dynatrace from a "buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Citigroup cut their price objective on Dynatrace from $68.00 to $64.00 and set a "buy" rating for the company in a report on Monday, August 18th. Finally, Morgan Stanley set a $55.00 price objective on Dynatrace in a report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.72.

Insider Buying and Selling

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

Dynatrace Stock Performance

DT traded down $0.16 during trading hours on Monday, reaching $49.84. The company's stock had a trading volume of 5,691,945 shares, compared to its average volume of 3,061,737. Dynatrace, Inc. has a 52 week low of $39.30 and a 52 week high of $63.00. The company's 50-day moving average is $51.48 and its 200-day moving average is $50.87. The firm 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.

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