Geode Capital Management LLC Increases Stake in Dynatrace, Inc. (NYSE:DT)

Geode Capital Management LLC increased its position in shares of Dynatrace, Inc. (NYSE:DT) by 20.8% in the third quarter, Holdings Channel.com reports. The firm owned 5,127,967 shares of the company’s stock after purchasing an additional 884,673 shares during the quarter. Geode Capital Management LLC’s holdings in Dynatrace were worth $273,610,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DT. Cullen Frost Bankers Inc. bought a new stake in Dynatrace in the second quarter worth about $26,000. Riverview Trust Co raised its holdings in shares of Dynatrace by 70.6% in the third quarter. Riverview Trust Co now owns 621 shares of the company’s stock worth $33,000 after buying an additional 257 shares during the period. Paladin Wealth LLC bought a new stake in shares of Dynatrace during the 3rd quarter worth approximately $38,000. UMB Bank n.a. boosted its holdings in Dynatrace by 292.3% during the 3rd quarter. UMB Bank n.a. now owns 718 shares of the company’s stock valued at $38,000 after acquiring an additional 535 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Dynatrace during the 3rd quarter valued at $52,000. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DT has been the subject of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $65.00 target price on shares of Dynatrace in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Guggenheim upped their target price on shares of Dynatrace from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Truist Financial lifted their price target on shares of Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wedbush began coverage on Dynatrace in a report on Thursday, October 17th. They issued an “outperform” rating and a $67.00 price target for the company. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.88.

Dynatrace Stock Down 3.6 %

NYSE DT opened at $54.41 on Friday. Dynatrace, Inc. has a 52 week low of $39.42 and a 52 week high of $61.41. The company has a 50 day moving average price of $54.71 and a 200 day moving average price of $49.86. The firm has a market cap of $16.24 billion, a PE ratio of 98.93, a price-to-earnings-growth ratio of 8.20 and a beta of 1.01.

Insiders Place Their Bets

In other news, EVP Bernd Greifeneder sold 50,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total transaction of $2,891,500.00. Following the transaction, the executive vice president now owns 1,007,038 shares in the company, valued at $58,237,007.54. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen J. Lifshatz sold 5,000 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the director now directly owns 41,471 shares of the company’s stock, valued at $2,280,905. The trade was a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,027 shares of company stock valued at $5,743,084. 0.59% of the stock is currently owned by insiders.

About Dynatrace

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.