Jennison Associates LLC Trims Stake in Dynatrace, Inc. (NYSE:DT)

Jennison Associates LLC lowered its position in Dynatrace, Inc. (NYSE:DT) by 98.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,605 shares of the company’s stock after selling 713,062 shares during the quarter. Jennison Associates LLC’s holdings in Dynatrace were worth $539,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in DT. Raymond James & Associates grew its holdings in Dynatrace by 10.8% during the 4th quarter. Raymond James & Associates now owns 235,222 shares of the company’s stock worth $12,864,000 after acquiring an additional 22,903 shares in the last quarter. United Asset Strategies Inc. bought a new position in Dynatrace during the 4th quarter worth about $1,556,000. Norden Group LLC bought a new position in Dynatrace during the 1st quarter worth about $5,546,000. Carnegie Capital Asset Management LLC grew its holdings in Dynatrace by 13.6% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 182,645 shares of the company’s stock worth $9,989,000 after acquiring an additional 21,880 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Dynatrace during the 4th quarter worth about $45,152,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Dynatrace Stock Performance

Dynatrace stock opened at $42.95 on Thursday. The company’s fifty day moving average price is $45.81 and its 200 day moving average price is $49.03. Dynatrace, Inc. has a 1 year low of $42.31 and a 1 year high of $61.41. The stock has a market capitalization of $12.77 billion, a P/E ratio of 82.60, a P/E/G ratio of 6.83 and a beta of 1.04.

Dynatrace (NYSE:DT) last released its quarterly earnings results on Wednesday, May 15th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Dynatrace had a net margin of 10.81% and a return on equity of 9.89%. The company had revenue of $380.85 million during the quarter, compared to analyst estimates of $375.20 million. Sell-side analysts predict that Dynatrace, Inc. will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

DT has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Dynatrace from $59.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 20th. BMO Capital Markets lowered their price target on shares of Dynatrace from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 16th. Wells Fargo & Company lowered their price target on shares of Dynatrace from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Bank of America lowered their target price on shares of Dynatrace from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Finally, Loop Capital lowered their target price on shares of Dynatrace from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Dynatrace currently has an average rating of “Moderate Buy” and an average target price of $60.96.

Insiders Place Their Bets

In other Dynatrace news, EVP Dan Zugelder sold 18,870 shares of Dynatrace stock in a transaction on Thursday, June 6th. The shares were 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 SEC, which is available at the SEC website. In other Dynatrace news, EVP Dan Zugelder sold 18,870 shares of Dynatrace stock in a transaction on Thursday, June 6th. The shares were 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 SEC, which is available at the SEC website. Also, CEO Rick M. Mcconnell sold 50,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $46.41, for a total transaction of $2,320,500.00. Following the transaction, the chief executive officer now directly owns 732,491 shares in the company, valued at approximately $33,994,907.31. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Dynatrace Company Profile

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.