Dynatrace, Inc. $DT Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its holdings in Dynatrace, Inc. by 2.1%, now owning approximately 333,923 shares worth about $15.7 million.
• Several institutional investors have increased their stakes in Dynatrace, including Brooklyn Investment Group, which lifted its stake by 761.9%.
• Dynatrace reported $0.42 earnings per share for the last quarter, surpassing analysts' expectations of $0.38 and showing a 19.5% year-over-year revenue increase.

Corebridge Financial Inc. decreased its stake in Dynatrace, Inc. (NYSE:DT - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,923 shares of the company's stock after selling 7,182 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Dynatrace worth $15,744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Comerica Bank boosted its position in shares of Dynatrace by 2.7% in the first quarter. Comerica Bank now owns 545,798 shares of the company's stock worth $25,734,000 after buying an additional 14,259 shares during the period. Synovus Financial Corp boosted its position in shares of Dynatrace by 26.9% in the first quarter. Synovus Financial Corp now owns 82,403 shares of the company's stock worth $3,885,000 after buying an additional 17,453 shares during the period. Jump Financial LLC boosted its position in shares of Dynatrace by 668.2% in the first quarter. Jump Financial LLC now owns 175,225 shares of the company's stock worth $8,262,000 after buying an additional 152,416 shares during the period. Compound Planning Inc. purchased a new stake in shares of Dynatrace in the first quarter worth about $230,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Dynatrace by 146.4% in the first quarter. Ameriprise Financial Inc. now owns 2,728,251 shares of the company's stock worth $128,638,000 after buying an additional 1,621,136 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

Dynatrace Trading Up 1.5%

NYSE DT traded up $0.76 on Thursday, hitting $50.88. 3,344,957 shares of the stock traded hands, compared to its average volume of 3,738,198. The stock has a 50-day moving average of $52.03 and a 200 day moving average of $51.49. Dynatrace, Inc. has a twelve month low of $39.30 and a twelve month high of $63.00. The company has a market capitalization of $15.34 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 4.35 and a beta of 0.91.

Dynatrace (NYSE:DT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business 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 business's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts expect that Dynatrace, Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DT. Wall Street Zen raised Dynatrace from a "hold" rating to a "buy" rating in a research report on Monday. Bank of America upped their target price on Dynatrace from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Royal Bank Of Canada increased their price target on Dynatrace from $60.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. KeyCorp initiated coverage on Dynatrace in a report on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 price target for the company. Finally, Morgan Stanley set a $55.00 price target on Dynatrace in a report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.72.

Insider Buying and Selling at Dynatrace

In other news, EVP Dan Zugelder sold 15,824 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $54.52, for a total transaction of $862,724.48. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company's stock.

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.