Dynatrace, Inc. (NYSE:DT) CEO Sells $2,575,000.00 in Stock

Dynatrace, Inc. (NYSE:DT) CEO Rick M. Mcconnell sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 650,587 shares of the company’s stock, valued at $33,505,230.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dynatrace Stock Performance

Shares of DT stock traded up $0.54 on Tuesday, reaching $52.09. The stock had a trading volume of 4,708,557 shares, compared to its average volume of 3,473,403. Dynatrace, Inc. has a 1 year low of $39.42 and a 1 year high of $61.41. The stock has a market cap of $15.53 billion, a P/E ratio of 99.13, a price-to-earnings-growth ratio of 7.63 and a beta of 1.05. The company has a 50 day simple moving average of $46.97 and a 200 day simple moving average of $46.42.

Dynatrace (NYSE:DT) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $399.20 million for the quarter, compared to the consensus estimate of $392.22 million. Dynatrace had a return on equity of 9.77% and a net margin of 10.36%. Dynatrace’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, equities research analysts anticipate that Dynatrace, Inc. will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dynatrace

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Eminence Capital LP purchased a new position in Dynatrace during the second quarter valued at $158,369,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Dynatrace during the 1st quarter valued at about $133,701,000. Norges Bank purchased a new position in shares of Dynatrace during the 4th quarter valued at about $148,515,000. Vanguard Group Inc. grew its stake in shares of Dynatrace by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 26,264,280 shares of the company’s stock valued at $1,436,393,000 after acquiring an additional 2,348,246 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Dynatrace by 1,146.0% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DT shares. Guggenheim decreased their price objective on shares of Dynatrace from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Needham & Company LLC reissued a “hold” rating on shares of Dynatrace in a research report on Tuesday, August 6th. Loop Capital dropped their price target on Dynatrace from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets lifted their price target on Dynatrace from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price objective on shares of Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Dynatrace presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.70.

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.