Price T Rowe Associates Inc. MD Sells 2,690,911 Shares of Dynatrace, Inc. $DT

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Dynatrace, Inc. by 15.1%, now holding 15,115,138 shares valued at approximately $712.68 million.
• Vanguard Group Inc. and Goldman Sachs Group Inc. increased their positions in Dynatrace, indicating continued institutional interest in the stock.
• Analysts have upgraded Dynatrace's price targets, with an average target of $62.63 and a consensus rating of "Moderate Buy."

Price T Rowe Associates Inc. MD reduced its stake in Dynatrace, Inc. (NYSE:DT - Free Report) by 15.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,115,138 shares of the company's stock after selling 2,690,911 shares during the period. Price T Rowe Associates Inc. MD owned about 5.05% of Dynatrace worth $712,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Coppell Advisory Solutions LLC grew its holdings in shares of Dynatrace by 1,423.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 716 shares of the company's stock worth $39,000 after purchasing an additional 669 shares during the last quarter. CX Institutional bought a new stake in Dynatrace during the 1st quarter valued at $40,000. Brooklyn Investment Group boosted its position in Dynatrace by 761.9% during the 1st quarter. Brooklyn Investment Group now owns 905 shares of the company's stock valued at $43,000 after buying an additional 800 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Dynatrace during the 1st quarter valued at $45,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Dynatrace by 35.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 979 shares of the company's stock worth $46,000 after acquiring an additional 256 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Dynatrace Price Performance

NYSE:DT traded up $0.70 during mid-day trading on Thursday, hitting $50.82. 1,176,671 shares of the company's stock were exchanged, compared to its average volume of 3,037,007. Dynatrace, Inc. has a one year low of $39.30 and a one year high of $63.00. The business has a fifty day moving average price of $52.12 and a 200 day moving average price of $51.56. The company has a market cap of $15.32 billion, a PE ratio of 31.17, a P/E/G ratio of 4.18 and a beta of 0.91.

Dynatrace (NYSE:DT - Get Free Report) last announced its 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 net margin of 27.75% and a return on equity of 9.15%. The business had revenue of $477.35 million during the quarter, compared to the consensus estimate of $467.39 million. During the same quarter last year, the firm earned $0.33 earnings per share. The business's revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts forecast that Dynatrace, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on DT. BMO Capital Markets lowered their price objective on shares of Dynatrace from $63.00 to $62.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Wedbush restated an "outperform" rating and set a $67.00 price target on shares of Dynatrace in a report on Friday, May 16th. Royal Bank Of Canada upped their price target on Dynatrace from $60.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. DA Davidson increased their price objective on Dynatrace from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, The Goldman Sachs Group boosted their target price on Dynatrace from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Dynatrace has an average rating of "Moderate Buy" and a consensus price target of $62.72.

Insider Buying and Selling

In other Dynatrace news, EVP Dan Zugelder sold 15,824 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $54.52, for a total value of $862,724.48. Following the sale, the executive vice president directly owned 17,242 shares of the company's stock, valued at approximately $940,033.84. The trade was a 47.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.