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 lessened its position in shares of Dynatrace, Inc. (NYSE:DT - Free Report) by 13.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 563,095 shares of the company's stock after selling 86,614 shares during the quarter. Millennium Management LLC owned about 0.19% of Dynatrace worth $26,550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DT. Captrust Financial Advisors grew its stake in Dynatrace by 2.9% during the 4th quarter. Captrust Financial Advisors now owns 6,298 shares of the company's stock worth $342,000 after buying an additional 177 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Dynatrace by 13.9% in the 4th quarter. Cetera Investment Advisers now owns 52,869 shares of the company's stock valued at $2,873,000 after purchasing an additional 6,444 shares during the last quarter. Ethic Inc. purchased a new position in shares of Dynatrace in the 4th quarter valued at approximately $703,000. Focus Partners Wealth purchased a new position in shares of Dynatrace in the 4th quarter valued at approximately $538,000. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of Dynatrace by 14.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 4,898 shares of the company's stock valued at $266,000 after purchasing an additional 604 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on DT shares. Wall Street Zen upgraded Dynatrace from a "hold" rating to a "buy" rating in a research note on Saturday. KeyCorp started coverage on Dynatrace in a research note on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 target price on the stock. BMO Capital Markets lowered their target price on Dynatrace from $63.00 to $62.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Oppenheimer started coverage on Dynatrace in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $65.00 target price on the stock. Finally, Guggenheim lifted their target price on Dynatrace from $66.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One investment 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $62.72.

Insider Buying and Selling

In related news, CAO Daniel S. Yates sold 2,000 shares of Dynatrace stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $49.89, for a total transaction of $99,780.00. Following the completion of the transaction, the chief accounting officer directly owned 22,555 shares of the company's stock, valued at approximately $1,125,268.95. The trade was a 8.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lisa M. Campbell sold 1,013 shares of Dynatrace stock in a transaction 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 approximately $50,367.24. This represents a 50.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,099 shares of company stock worth $154,429. Company insiders own 0.57% of the company's stock.

Dynatrace Stock Down 0.8%

Shares of Dynatrace stock traded down $0.41 during trading on Monday, reaching $48.62. The company's stock had a trading volume of 4,533,862 shares, compared to its average volume of 3,083,097. Dynatrace, Inc. has a 12-month low of $39.30 and a 12-month high of $63.00. The company has a market capitalization of $14.66 billion, a P/E ratio of 29.83, a price-to-earnings-growth ratio of 4.31 and a beta of 0.91. The business has a 50 day moving average price of $50.85 and a 200-day moving average price of $50.54.

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