Dynatrace, Inc. $DT Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC reduced its stake in Dynatrace, Inc. by 13.3%, selling 86,614 shares and holding a total of 563,095 shares, valued at $26.55 million.
• Several hedge funds increased their positions in Dynatrace, with institutional investors currently owning 94.28% of the stock.
• Dynatrace's shares have shown a 2.9% increase, with recent earnings surpassing estimates and revenue growing 19.5% year-over-year.

Millennium Management LLC lowered its position in Dynatrace, Inc. (NYSE:DT - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 563,095 shares of the company's stock after selling 86,614 shares during the period. Millennium Management LLC owned about 0.19% of Dynatrace worth $26,550,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

DT has been the topic of several recent research reports. KeyCorp initiated coverage on Dynatrace in a report on Tuesday, June 10th. They set an "overweight" rating and a $69.00 target price on the stock. Royal Bank Of Canada increased their target price on shares of Dynatrace from $60.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. 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. Oppenheimer started coverage on Dynatrace in a research report on Wednesday, August 27th. They set an "outperform" rating and a $65.00 target price on the stock. Finally, BMO Capital Markets cut their target price on shares of Dynatrace from $63.00 to $62.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. One 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.72.

Dynatrace Stock Performance

Shares of NYSE:DT traded up $0.06 during mid-day trading on Wednesday, hitting $47.88. 565,563 shares of the company traded hands, compared to its average volume of 3,078,047. The firm has a market cap of $14.44 billion, a P/E ratio of 29.39, a PEG ratio of 4.27 and a beta of 0.91. Dynatrace, Inc. has a 52-week low of $39.30 and a 52-week high of $63.00. The firm's 50 day simple moving average is $50.52 and its 200 day simple moving average is $50.46.

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

Insider Activity

In other Dynatrace news, Director Lisa M. Campbell sold 1,013 shares of the company's 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 transaction, the director directly owned 1,012 shares of the company's stock, valued at $50,367.24. This represents a 50.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Daniel S. Yates sold 2,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $49.89, for a total transaction of $99,780.00. Following the completion of the sale, the chief accounting officer owned 22,555 shares in the company, valued at approximately $1,125,268.95. This trade represents 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 worth $154,429. Insiders own 0.57% of the company's stock.

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.