Jericho Capital Asset Management L.P. Sells 1,359,301 Shares of Dynatrace, Inc. $DT

Key Points

• Jericho Capital Asset Management L.P. reduced its stake in Dynatrace, Inc. by 35.0%, selling 1,359,301 shares and retaining 2,527,742 shares, which represent 2.2% of its portfolio.
• Other institutional investors, including Ameriprise Financial and Goldman Sachs, have increased their positions, with Ameriprise boosting its stake by 146.4%.
• Dynatrace reported $477.35 million in revenue for the last quarter, surpassing expectations, and analysts forecast an EPS of 0.68 for the current fiscal year.

Jericho Capital Asset Management L.P. lowered its stake in Dynatrace, Inc. (NYSE:DT - Free Report) by 35.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,527,742 shares of the company's stock after selling 1,359,301 shares during the period. Dynatrace accounts for approximately 2.2% of Jericho Capital Asset Management L.P.'s holdings, making the stock its 17th biggest holding. Jericho Capital Asset Management L.P. owned 0.84% of Dynatrace worth $119,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Gotham Asset Management LLC increased its position in shares of Dynatrace by 1.1% in the 1st quarter. Gotham Asset Management LLC now owns 230,067 shares of the company's stock worth $10,848,000 after purchasing an additional 2,449 shares during the last quarter. Eminence Capital LP grew its position in Dynatrace by 25.6% in the 1st quarter. Eminence Capital LP now owns 3,351,603 shares of the company's stock worth $158,028,000 after purchasing an additional 683,443 shares during the last quarter. Eventide Asset Management LLC lifted its stake in shares of Dynatrace by 6.4% in the 1st quarter. Eventide Asset Management LLC now owns 37,089 shares of the company's stock worth $1,752,000 after acquiring an additional 2,242 shares during the period. Cinctive Capital Management LP lifted its stake in shares of Dynatrace by 120.5% in the 1st quarter. Cinctive Capital Management LP now owns 421,763 shares of the company's stock worth $19,886,000 after acquiring an additional 230,465 shares during the period. Finally, Curi RMB Capital LLC lifted its stake in Dynatrace by 2.0% during the first quarter. Curi RMB Capital LLC now owns 58,157 shares of the company's stock valued at $2,742,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Dynatrace Price Performance

Dynatrace stock traded up $0.72 during trading hours on Tuesday, hitting $50.65. The company had a trading volume of 2,308,629 shares, compared to its average volume of 3,060,244. The firm's fifty day moving average is $51.37 and its 200-day moving average is $50.80. Dynatrace, Inc. has a fifty-two week low of $39.30 and a fifty-two week high of $63.00. The firm has a market capitalization of $15.27 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 4.40 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 EPS for the quarter, topping the consensus estimate 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 in the prior year, the business posted $0.33 EPS. Dynatrace's quarterly revenue was up 19.5% on a year-over-year basis. Analysts anticipate that Dynatrace, Inc. will post 0.68 earnings per share for the current year.

Insider Buying and Selling at Dynatrace

In other news, CAO Daniel S. Yates sold 2,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $49.89, for a total transaction of $99,780.00. Following the transaction, the chief accounting officer owned 22,555 shares in the company, valued at $1,125,268.95. This represents a 8.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lisa M. Campbell sold 1,013 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $49.77, for a total transaction of $50,417.01. Following the completion of the transaction, the director owned 1,012 shares in the company, valued at $50,367.24. The trade was a 50.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on DT shares. Morgan Stanley set a $55.00 target price on shares of Dynatrace in a research note on Thursday, May 15th. KeyCorp initiated coverage on shares of Dynatrace in a research report on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 price target for the company. BMO Capital Markets reduced 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. DA Davidson upped their price target on shares of Dynatrace from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.