Allspring Global Investments Holdings LLC grew its holdings in Dynatrace, Inc. (NYSE:DT – Free Report) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,077,181 shares of the company’s stock after buying an additional 55,040 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Dynatrace were worth $52,039,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MAI Capital Management increased its position in Dynatrace by 122.4% in the 2nd quarter. MAI Capital Management now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 301 shares during the period. VSM Wealth Advisory LLC acquired a new stake in Dynatrace during the 2nd quarter worth approximately $34,000. Eastern Bank purchased a new position in shares of Dynatrace in the 2nd quarter valued at approximately $35,000. CX Institutional increased its holdings in shares of Dynatrace by 42.6% in the second quarter. CX Institutional now owns 1,221 shares of the company’s stock valued at $67,000 after purchasing an additional 365 shares during the period. Finally, Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new stake in shares of Dynatrace during the second quarter worth approximately $71,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.
Dynatrace Stock Down 1.9%
Dynatrace stock opened at $43.28 on Friday. The firm has a market capitalization of $13.05 billion, a PE ratio of 25.92, a P/E/G ratio of 3.44 and a beta of 0.85. 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 $45.68 and its 200 day simple moving average is $49.08.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on DT. Wall Street Zen lowered shares of Dynatrace from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Cowen restated a “buy” rating on shares of Dynatrace in a research note on Monday, November 17th. Truist Financial lowered their target price on shares of Dynatrace from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Cantor Fitzgerald dropped their price target on shares of Dynatrace from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, Wells Fargo & Company assumed coverage on shares of Dynatrace in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $65.00 price objective for the company. 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 stock has a consensus rating of “Moderate Buy” and an average target price of $61.59.
Insider Buying and Selling at Dynatrace
In other Dynatrace news, CEO Rick M. Mcconnell sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $46.61, for a total transaction of $1,398,300.00. Following the completion of the transaction, the chief executive officer owned 108,125 shares of the company’s stock, valued at approximately $5,039,706.25. This trade represents a 21.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Daniel S. Yates sold 2,000 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $46.69, for a total value of $93,380.00. Following the sale, the chief accounting officer directly owned 23,380 shares in the company, valued at approximately $1,091,612.20. The trade was a 7.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 47,346 shares of company stock worth $2,221,574. 0.57% of the stock is owned by insiders.
About Dynatrace
Dynatrace is a global software intelligence company specializing in application performance management (APM), cloud infrastructure monitoring, and digital experience management. Its flagship offering, the Dynatrace Software Intelligence Platform, leverages artificial intelligence to provide real-time observability across distributed environments, including on-premises data centers, private clouds, public clouds and hybrid deployments. Organizations rely on Dynatrace to detect anomalies, troubleshoot performance issues and optimize end-user experiences through automated root-cause analysis powered by the company’s engine, Davis.
The Dynatrace platform comprises modules for full-stack application monitoring, digital experience monitoring, infrastructure monitoring and business analytics.
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