Short Interest in Dynatrace, Inc. (NYSE:DT) Increases By 23.1%

Dynatrace, Inc. (NYSE:DT) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 6,550,000 shares, a growth of 23.1% from the February 28th total of 5,320,000 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 3,050,000 shares, the short-interest ratio is currently 2.1 days.

Dynatrace Stock Performance

DT traded up $0.63 during trading on Wednesday, reaching $48.46. The stock had a trading volume of 2,259,361 shares, compared to its average volume of 3,219,452. The business has a 50-day moving average of $55.33 and a 200-day moving average of $54.41. Dynatrace has a one year low of $39.42 and a one year high of $63.00. The stock has a market cap of $14.51 billion, a PE ratio of 30.29, a PEG ratio of 7.05 and a beta of 1.12.

Insiders Place Their Bets

In other Dynatrace news, CFO James M. Benson sold 34,932 shares of Dynatrace stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $61.05, for a total value of $2,132,598.60. Following the completion of the sale, the chief financial officer now directly owns 339,004 shares of the company’s stock, valued at approximately $20,696,194.20. The trade was a 9.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rick M. Mcconnell sold 40,000 shares of Dynatrace stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $60.45, for a total value of $2,418,000.00. Following the completion of the transaction, the chief executive officer now directly owns 506,720 shares in the company, valued at $30,631,224. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,432 shares of company stock valued at $7,159,599 in the last ninety days. Insiders own 0.59% of the company’s stock.

Institutional Trading of Dynatrace

Hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama grew its position in Dynatrace by 21.9% during the 3rd quarter. Retirement Systems of Alabama now owns 361,884 shares of the company’s stock worth $19,350,000 after acquiring an additional 64,999 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Dynatrace by 20.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock valued at $273,610,000 after purchasing an additional 884,673 shares in the last quarter. Synovus Financial Corp increased its position in shares of Dynatrace by 27.8% during the third quarter. Synovus Financial Corp now owns 64,093 shares of the company’s stock valued at $3,427,000 after buying an additional 13,957 shares during the period. QRG Capital Management Inc. raised its stake in Dynatrace by 16.9% in the fourth quarter. QRG Capital Management Inc. now owns 64,099 shares of the company’s stock worth $3,484,000 after buying an additional 9,251 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Dynatrace in the fourth quarter worth about $842,000. Institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DT shares. Scotiabank raised their price objective on shares of Dynatrace from $62.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. UBS Group upped their price target on shares of Dynatrace from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $67.00 target price on shares of Dynatrace in a report on Friday, January 31st. Wells Fargo & Company set a $70.00 price objective on Dynatrace in a report on Friday, January 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $67.00 target price on shares of Dynatrace in a research report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.35.

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.