New York State Common Retirement Fund Lowers Stake in Dynatrace, Inc. (NYSE:DT)

New York State Common Retirement Fund lowered its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,440 shares of the company’s stock after selling 29,955 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Dynatrace worth $10,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DT. California Public Employees Retirement System grew its stake in shares of Dynatrace by 0.4% in the fourth quarter. California Public Employees Retirement System now owns 431,069 shares of the company’s stock worth $23,575,000 after acquiring an additional 1,834 shares during the last quarter. Jennison Associates LLC grew its position in Dynatrace by 3,184.4% during the 4th quarter. Jennison Associates LLC now owns 724,667 shares of the company’s stock valued at $39,632,000 after purchasing an additional 702,603 shares during the last quarter. OLD National Bancorp IN bought a new stake in Dynatrace during the 4th quarter valued at about $275,000. Handelsbanken Fonder AB raised its holdings in Dynatrace by 104.7% in the fourth quarter. Handelsbanken Fonder AB now owns 1,868,800 shares of the company’s stock worth $102,205,000 after buying an additional 956,000 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Dynatrace by 33.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,896 shares of the company’s stock worth $1,197,000 after buying an additional 5,503 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Dynatrace Stock Up 0.7 %

DT stock opened at $45.61 on Thursday. The business’s 50-day moving average price is $46.72 and its 200-day moving average price is $50.78. The stock has a market cap of $13.43 billion, a P/E ratio of 69.11, a PEG ratio of 3.99 and a beta of 1.07. Dynatrace, Inc. has a twelve month low of $40.57 and a twelve month high of $61.41.

Dynatrace (NYSE:DT) last released its earnings results on Thursday, February 8th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $357.64 million. Dynatrace had a net margin of 14.44% and a return on equity of 11.92%. On average, equities research analysts expect that Dynatrace, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Activity at Dynatrace

In other Dynatrace news, SVP Dan Zugelder sold 6,595 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $52.61, for a total transaction of $346,962.95. Following the sale, the senior vice president now directly owns 89,425 shares of the company’s stock, valued at $4,704,649.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of Dynatrace stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.60, for a total value of $749,178,065.40. Following the sale, the insider now directly owns 16,114,344 shares of the company’s stock, valued at $847,614,494.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dan Zugelder sold 6,595 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $52.61, for a total value of $346,962.95. Following the transaction, the senior vice president now directly owns 89,425 shares of the company’s stock, valued at $4,704,649.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,278,591 shares of company stock worth $750,893,396. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of Dynatrace in a report on Friday, February 9th. Scotiabank increased their price objective on Dynatrace from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Monday, February 5th. JMP Securities boosted their target price on Dynatrace from $56.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. dropped their price target on shares of Dynatrace from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, April 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Dynatrace in a report on Monday, April 1st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dynatrace currently has an average rating of “Moderate Buy” and an average target price of $61.08.

About Dynatrace

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.