Cinctive Capital Management LP Cuts Stock Position in Dynatrace, Inc. (NYSE:DT)

Cinctive Capital Management LP cut its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 30.9% during the third quarter, Holdings Channel.com reports. The fund owned 306,672 shares of the company’s stock after selling 137,362 shares during the period. Dynatrace accounts for approximately 0.9% of Cinctive Capital Management LP’s portfolio, making the stock its 23rd largest position. Cinctive Capital Management LP’s holdings in Dynatrace were worth $16,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Tidal Investments LLC raised its stake in Dynatrace by 47.2% during the 1st quarter. Tidal Investments LLC now owns 28,286 shares of the company’s stock valued at $1,314,000 after purchasing an additional 9,067 shares during the period. Cetera Investment Advisers raised its position in shares of Dynatrace by 385.9% during the first quarter. Cetera Investment Advisers now owns 40,685 shares of the company’s stock valued at $1,889,000 after buying an additional 32,312 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Dynatrace by 88.7% in the first quarter. Cetera Advisors LLC now owns 7,336 shares of the company’s stock worth $341,000 after buying an additional 3,448 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of Dynatrace by 6.2% in the second quarter. First Hawaiian Bank now owns 31,000 shares of the company’s stock worth $1,387,000 after buying an additional 1,800 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in shares of Dynatrace by 3.2% during the second quarter. DNB Asset Management AS now owns 44,075 shares of the company’s stock worth $1,972,000 after acquiring an additional 1,365 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Barclays upgraded Dynatrace from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $64.00 in a research report on Monday, October 7th. Needham & Company LLC restated a “hold” rating on shares of Dynatrace in a report on Friday, November 8th. Wedbush assumed coverage on Dynatrace in a report on Thursday, October 17th. They set an “outperform” rating and a $67.00 price objective on the stock. Finally, BTIG Research raised their target price on shares of Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Dynatrace currently has an average rating of “Moderate Buy” and a consensus price target of $61.36.

Dynatrace Stock Performance

Shares of DT opened at $56.19 on Monday. The stock has a 50-day moving average of $53.82 and a two-hundred day moving average of $49.20. The stock has a market cap of $16.77 billion, a P/E ratio of 102.16, a P/E/G ratio of 8.21 and a beta of 1.06. Dynatrace, Inc. has a one year low of $39.42 and a one year high of $61.41.

Insiders Place Their Bets

In other news, CEO Rick M. Mcconnell sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $51.50, for a total value of $2,575,000.00. Following the completion of the sale, the chief executive officer now directly owns 650,587 shares in the company, valued at $33,505,230.50. The trade was a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dan Zugelder sold 11,022 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $49.71, for a total transaction of $547,903.62. Following the transaction, the executive vice president now owns 217,465 shares of the company’s stock, valued at $10,810,185.15. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,022 shares of company stock valued at $3,397,904. Company insiders own 0.59% of the company’s stock.

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.