Dorsal Capital Management LP Has $78.30 Million Stake in Dynatrace, Inc. (NYSE:DT)

Dorsal Capital Management LP grew its stake in shares of Dynatrace, Inc. (NYSE:DT) by 118.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,750,000 shares of the company’s stock after purchasing an additional 950,000 shares during the period. Dynatrace comprises approximately 2.7% of Dorsal Capital Management LP’s portfolio, making the stock its 17th biggest position. Dorsal Capital Management LP owned about 0.59% of Dynatrace worth $78,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DT. Eminence Capital LP bought a new stake in shares of Dynatrace in the 2nd quarter worth $158,369,000. APG Asset Management N.V. lifted its position in shares of Dynatrace by 47.9% during the second quarter. APG Asset Management N.V. now owns 326,079 shares of the company’s stock valued at $13,612,000 after purchasing an additional 105,609 shares in the last quarter. APG Asset Management US Inc. grew its position in Dynatrace by 10.6% in the 2nd quarter. APG Asset Management US Inc. now owns 271,840 shares of the company’s stock worth $12,252,000 after purchasing an additional 26,119 shares in the last quarter. AQR Capital Management LLC increased its stake in Dynatrace by 91.2% in the 2nd quarter. AQR Capital Management LLC now owns 148,130 shares of the company’s stock valued at $6,593,000 after buying an additional 70,642 shares during the last quarter. Finally, Caxton Associates LP lifted its position in shares of Dynatrace by 133.3% during the 2nd quarter. Caxton Associates LP now owns 70,000 shares of the company’s stock worth $3,132,000 after buying an additional 40,000 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DT has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on Dynatrace from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Wedbush restated a “neutral” rating and issued a $55.00 price objective on shares of Dynatrace in a research note on Thursday, August 8th. Guggenheim decreased their target price on Dynatrace from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Needham & Company LLC reissued a “hold” rating on shares of Dynatrace in a report on Tuesday, August 6th. Finally, Loop Capital reduced their price target on shares of Dynatrace from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.70.

Insider Buying and Selling

In other news, CEO Rick M. Mcconnell sold 50,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the completion of the transaction, the chief executive officer now directly owns 650,587 shares in the company, valued at approximately $33,505,230.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Rick M. Mcconnell sold 50,000 shares of Dynatrace stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the completion of the sale, the chief executive officer now owns 650,587 shares in the company, valued at approximately $33,505,230.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Zugelder sold 11,022 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $49.71, for a total value of $547,903.62. Following the transaction, the executive vice president now directly owns 217,465 shares of the company’s stock, valued at approximately $10,810,185.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,426 shares of company stock valued at $3,804,069. Company insiders own 0.54% of the company’s stock.

Dynatrace Stock Performance

NYSE:DT opened at $52.48 on Thursday. The business’s fifty day moving average is $47.97 and its 200 day moving average is $46.61. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 100.93, a PEG ratio of 7.83 and a beta of 1.05. Dynatrace, Inc. has a 52-week low of $39.42 and a 52-week high of $61.41.

Dynatrace (NYSE:DT) last announced its quarterly 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. Dynatrace had a return on equity of 9.77% and a net margin of 10.36%. The firm had revenue of $399.20 million for the quarter, compared to analysts’ expectations of $392.22 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. Equities analysts predict that Dynatrace, Inc. will post 0.71 EPS for the current fiscal year.

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.