Arizona State Retirement System Sells 2,171 Shares of Dynatrace, Inc. (NYSE:DT)

Arizona State Retirement System decreased its position in Dynatrace, Inc. (NYSE:DT) by 2.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,180 shares of the company’s stock after selling 2,171 shares during the quarter. Arizona State Retirement System’s holdings in Dynatrace were worth $3,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jericho Capital Asset Management L.P. purchased a new stake in shares of Dynatrace during the 1st quarter valued at about $133,701,000. Norges Bank bought a new stake in Dynatrace during the fourth quarter valued at approximately $148,515,000. Vanguard Group Inc. increased its holdings in Dynatrace by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 26,264,280 shares of the company’s stock valued at $1,436,393,000 after buying an additional 2,348,246 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Dynatrace by 1,146.0% in the second quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock worth $98,792,000 after acquiring an additional 2,030,915 shares during the period. Finally, Congress Asset Management Co. MA raised its position in Dynatrace by 670.2% in the first quarter. Congress Asset Management Co. MA now owns 1,815,931 shares of the company’s stock worth $84,332,000 after acquiring an additional 1,580,162 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DT has been the subject of a number of recent research reports. Robert W. Baird cut their price objective on shares of Dynatrace from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, May 16th. Wedbush reissued a “neutral” rating and set a $55.00 price target on shares of Dynatrace in a report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Loop Capital lowered their price objective on Dynatrace from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, June 26th. Finally, Guggenheim reduced their target price on shares of Dynatrace from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dynatrace currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.70.

Dynatrace Stock Up 1.4 %

Shares of DT stock opened at $50.90 on Tuesday. The company’s fifty day simple moving average is $46.39 and its two-hundred day simple moving average is $46.37. Dynatrace, Inc. has a 52 week low of $39.42 and a 52 week high of $61.41. The stock has a market cap of $15.18 billion, a P/E ratio of 97.88, a PEG ratio of 7.55 and a beta of 1.05.

Dynatrace (NYSE:DT) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 previous year, the firm posted $0.16 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. On average, analysts anticipate that Dynatrace, Inc. will post 0.71 EPS for the current fiscal year.

Insider Transactions at Dynatrace

In other news, EVP Dan Zugelder sold 11,022 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 217,465 shares in the company, valued at approximately $10,810,185.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Rick M. Mcconnell sold 50,000 shares of Dynatrace stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $46.41, for a total value of $2,320,500.00. Following the completion of the transaction, the chief executive officer now owns 732,491 shares in the company, valued at $33,994,907.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dan Zugelder sold 11,022 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $49.71, for a total value of $547,903.62. Following the sale, the executive vice president now owns 217,465 shares in the company, valued at $10,810,185.15. The disclosure for this sale can be found here. Insiders have sold 76,426 shares of company stock valued at $3,549,569 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.