State of Michigan Retirement System Lowers Position in Dynatrace, Inc. (NYSE:DT)

State of Michigan Retirement System lowered its holdings in Dynatrace, Inc. (NYSE:DT) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,900 shares of the company’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Dynatrace were worth $2,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DT. 1492 Capital Management LLC raised its holdings in shares of Dynatrace by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 23,144 shares of the company’s stock valued at $1,266,000 after buying an additional 224 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Dynatrace by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 6,128 shares of the company’s stock worth $284,000 after buying an additional 226 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Dynatrace by 76.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 530 shares of the company’s stock worth $25,000 after buying an additional 230 shares during the last quarter. McAdam LLC grew its position in shares of Dynatrace by 1.9% in the 1st quarter. McAdam LLC now owns 12,818 shares of the company’s stock worth $595,000 after buying an additional 243 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Dynatrace by 0.8% in the 1st quarter. State of Alaska Department of Revenue now owns 34,514 shares of the company’s stock worth $1,602,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Dynatrace Stock Down 0.8 %

Shares of NYSE:DT opened at $49.87 on Wednesday. The firm’s 50 day moving average price is $45.17 and its 200-day moving average price is $46.47. The stock has a market capitalization of $14.87 billion, a PE ratio of 95.90, a price-to-earnings-growth ratio of 6.40 and a beta of 1.04. Dynatrace, Inc. has a twelve month low of $39.42 and a twelve month high of $61.41.

Dynatrace (NYSE:DT) last released its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $399.20 million for the quarter, compared to the consensus estimate of $392.22 million. Dynatrace had a return on equity of 9.89% and a net margin of 10.81%. Dynatrace’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. Analysts expect that Dynatrace, Inc. will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at Dynatrace

In other news, EVP Dan Zugelder sold 18,870 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $46.72, for a total value of $881,606.40. Following the transaction, the executive vice president now owns 253,176 shares of the company’s stock, valued at $11,828,382.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Dan Zugelder sold 18,870 shares of Dynatrace stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $46.72, for a total transaction of $881,606.40. Following the sale, the executive vice president now owns 253,176 shares of the company’s stock, valued at approximately $11,828,382.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rick M. Mcconnell sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $46.41, for a total value of $2,320,500.00. Following the completion of the transaction, the chief executive officer now owns 732,491 shares of the company’s stock, valued at $33,994,907.31. The disclosure for this sale can be found here. Insiders have sold 84,274 shares of company stock valued at $3,883,271 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DT shares. Royal Bank of Canada cut their price objective on Dynatrace from $66.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, May 16th. Scotiabank lifted their price objective on Dynatrace from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Dynatrace in a research note on Tuesday, August 6th. Truist Financial restated a “buy” rating and issued a $60.00 target price (down previously from $70.00) on shares of Dynatrace in a research note on Thursday, May 16th. Finally, Guggenheim lowered their target price on Dynatrace from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dynatrace has a consensus rating of “Moderate Buy” and an average price target of $59.70.

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.