Fmr LLC Sells 6,346,220 Shares of Dynatrace, Inc. (NYSE:DT)

Fmr LLC reduced its position in shares of Dynatrace, Inc. (NYSE:DT) by 68.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,940,694 shares of the company’s stock after selling 6,346,220 shares during the quarter. Fmr LLC’s holdings in Dynatrace were worth $157,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Dynatrace by 3,813.3% in the 2nd quarter. Versant Capital Management Inc now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 572 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Dynatrace in the second quarter worth $26,000. V Square Quantitative Management LLC purchased a new position in Dynatrace during the second quarter worth $32,000. Riverview Trust Co increased its position in Dynatrace by 70.6% during the third quarter. Riverview Trust Co now owns 621 shares of the company’s stock valued at $33,000 after acquiring an additional 257 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Dynatrace by 292.3% in the third quarter. UMB Bank n.a. now owns 718 shares of the company’s stock valued at $38,000 after acquiring an additional 535 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Dynatrace Stock Performance

Shares of Dynatrace stock opened at $57.28 on Wednesday. The stock has a 50 day moving average of $54.00 and a 200 day moving average of $49.32. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 104.15, a PEG ratio of 8.24 and a beta of 1.01. Dynatrace, Inc. has a fifty-two week low of $39.42 and a fifty-two week high of $61.41.

Insider Transactions at Dynatrace

In other Dynatrace 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 sale, the chief executive officer now owns 650,587 shares of the company’s stock, valued at $33,505,230.50. The trade was a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen J. Lifshatz sold 5,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the director now owns 41,471 shares of the company’s stock, valued at approximately $2,280,905. This represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,022 shares of company stock worth $3,397,904. 0.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DT shares. Wedbush initiated coverage on shares of Dynatrace in a report on Thursday, October 17th. They set an “outperform” rating and a $67.00 price target on the stock. Barclays raised Dynatrace from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $64.00 in a research note on Monday, October 7th. Guggenheim raised their price target on Dynatrace from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Scotiabank upped their price objective on Dynatrace from $55.00 to $62.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their target price on Dynatrace from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.36.

Dynatrace Profile

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.