Fifth Third Bancorp Sells 8,101 Shares of Dynatrace, Inc. $DT

Key Points

• Fifth Third Bancorp has reduced its stake in Dynatrace, Inc. by 22.4%, selling 8,101 shares and owning 28,112 shares worth $1.55 million as of the last quarter.
• Several hedge funds, such as CX Institutional and Brooklyn Investment Group, have recently increased their positions in Dynatrace, indicating strong institutional interest in the stock.
• Dynatrace reported better-than-expected quarterly earnings, with $0.42 EPS against a consensus of $0.38, and its revenue up 19.5% year-over-year, reflecting solid growth.

Fifth Third Bancorp decreased its stake in Dynatrace, Inc. (NYSE:DT - Free Report) by 22.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,112 shares of the company's stock after selling 8,101 shares during the period. Fifth Third Bancorp's holdings in Dynatrace were worth $1,552,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DT. CX Institutional purchased a new position in Dynatrace in the first quarter worth $40,000. Brooklyn Investment Group lifted its stake in Dynatrace by 761.9% during the first quarter. Brooklyn Investment Group now owns 905 shares of the company's stock worth $43,000 after purchasing an additional 800 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Dynatrace in the 1st quarter worth about $45,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Dynatrace by 35.4% during the 1st 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. Finally, Global Financial Private Client LLC raised its holdings in shares of Dynatrace by 344.0% during the 1st quarter. Global Financial Private Client LLC now owns 1,110 shares of the company's stock valued at $52,000 after buying an additional 860 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Activity at Dynatrace

In other news, Director Lisa M. Campbell sold 1,013 shares of Dynatrace stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $49.77, for a total value of $50,417.01. Following the sale, the director directly owned 1,012 shares in the company, valued at approximately $50,367.24. This trade represents a 50.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel S. Yates sold 2,000 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer directly owned 22,555 shares of the company's stock, valued at $1,125,268.95. The trade was a 8.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,099 shares of company stock valued at $154,429. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DT. KeyCorp began coverage on Dynatrace in a research note on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 target price for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $67.00 price objective on shares of Dynatrace in a research note on Monday, August 4th. Citigroup reduced their target price on shares of Dynatrace from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Royal Bank Of Canada boosted their price target on shares of Dynatrace from $60.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets cut their price target 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. 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $62.72.

Dynatrace Stock Up 1.8%

NYSE:DT opened at $49.49 on Friday. The firm has a market capitalization of $14.92 billion, a P/E ratio of 30.36, a P/E/G ratio of 4.35 and a beta of 0.91. The company has a fifty day moving average of $49.81 and a 200 day moving average of $50.23. Dynatrace, Inc. has a 52 week low of $39.30 and a 52 week high of $63.00.

Dynatrace (NYSE:DT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) 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 analyst estimates of $467.39 million. Dynatrace had a net margin of 27.75% and a return on equity of 9.15%. The company's revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, analysts anticipate that Dynatrace, Inc. will post 0.68 EPS for the current 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.

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