Jennison Associates LLC Buys 702,603 Shares of Dynatrace, Inc. (NYSE:DT)

Jennison Associates LLC raised its stake in Dynatrace, Inc. (NYSE:DT - Free Report) by 3,184.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 724,667 shares of the company's stock after buying an additional 702,603 shares during the period. Jennison Associates LLC owned about 0.25% of Dynatrace worth $39,632,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its stake in Dynatrace by 11,824.1% during the third quarter. American Century Companies Inc. now owns 2,411,771 shares of the company's stock worth $112,702,000 after purchasing an additional 2,391,545 shares during the period. Vanguard Group Inc. grew its stake in Dynatrace by 8.8% during the third quarter. Vanguard Group Inc. now owns 23,916,034 shares of the company's stock worth $1,117,596,000 after purchasing an additional 1,940,604 shares during the period. Handelsbanken Fonder AB grew its stake in Dynatrace by 104.7% during the fourth quarter. Handelsbanken Fonder AB now owns 1,868,800 shares of the company's stock worth $102,205,000 after purchasing an additional 956,000 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Dynatrace during the fourth quarter worth approximately $45,152,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Dynatrace by 56.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,892,822 shares of the company's stock worth $103,518,000 after purchasing an additional 682,200 shares during the period. Institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley assumed coverage on Dynatrace in a research note on Tuesday, February 13th. They set an "equal weight" rating and a $60.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Dynatrace from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, April 1st. Citigroup raised their price objective on Dynatrace from $58.00 to $68.00 and gave the company a "buy" rating in a research note on Monday, January 22nd. Capital One Financial initiated coverage on Dynatrace in a research note on Wednesday, February 21st. They issued an "overweight" rating and a $64.00 price objective for the company. Finally, Jefferies Financial Group raised Dynatrace from a "hold" rating to a "buy" rating and raised their price objective for the company from $50.00 to $70.00 in a research note on Friday, January 5th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Dynatrace presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.08.

Dynatrace Stock Performance

Shares of Dynatrace stock traded up $0.48 during midday trading on Wednesday, hitting $46.73. The company had a trading volume of 2,055,130 shares, compared to its average volume of 3,540,640. The stock has a market capitalization of $13.76 billion, a P/E ratio of 70.80, a P/E/G ratio of 3.91 and a beta of 1.07. The company has a 50 day moving average of $47.18 and a 200 day moving average of $50.84. Dynatrace, Inc. has a 52-week low of $40.43 and a 52-week high of $61.41.

Dynatrace (NYSE:DT - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $365.10 million for the quarter, compared to analysts' expectations of $357.64 million. Dynatrace had a return on equity of 11.92% and a net margin of 14.44%. Equities research analysts forecast that Dynatrace, Inc. will post 0.62 EPS for the current year.

Insider Activity

In other news, CEO Rick M. Mcconnell sold 25,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $46.29, for a total transaction of $1,157,250.00. Following the transaction, the chief executive officer now directly owns 477,105 shares of the company's stock, valued at approximately $22,085,190.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Rick M. Mcconnell sold 1,991 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $51.91, for a total value of $103,352.81. Following the transaction, the chief executive officer now directly owns 514,106 shares of the company's stock, valued at approximately $26,687,242.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Rick M. Mcconnell sold 25,000 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $46.29, for a total value of $1,157,250.00. Following the completion of the transaction, the chief executive officer now directly owns 477,105 shares in the company, valued at $22,085,190.45. The disclosure for this sale can be found here. Insiders have sold 14,278,591 shares of company stock valued at $750,893,396 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

Dynatrace Profile

Dynatrace, Inc provides a security platform for multicloud environments. It 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.