Bridgewater Associates LP Sells 30,611 Shares of Dynatrace, Inc. (NYSE:DT)

Bridgewater Associates LP lessened its stake in Dynatrace, Inc. (NYSE:DT) by 21.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,628 shares of the company’s stock after selling 30,611 shares during the period. Bridgewater Associates LP’s holdings in Dynatrace were worth $6,129,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Dynatrace by 13.2% in the second quarter. American Century Companies Inc. now owns 6,701,539 shares of the company’s stock worth $299,827,000 after buying an additional 782,588 shares during the last quarter. RGM Capital LLC boosted its stake in shares of Dynatrace by 6.2% during the 2nd quarter. RGM Capital LLC now owns 3,848,775 shares of the company’s stock worth $172,194,000 after acquiring an additional 225,000 shares during the last quarter. Eminence Capital LP bought a new stake in shares of Dynatrace during the 2nd quarter valued at $158,369,000. Westfield Capital Management Co. LP increased its stake in shares of Dynatrace by 31.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,703,772 shares of the company’s stock worth $144,571,000 after purchasing an additional 648,808 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in shares of Dynatrace by 23.9% in the 3rd quarter. Congress Asset Management Co. now owns 2,501,451 shares of the company’s stock worth $133,753,000 after purchasing an additional 482,017 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Dynatrace Stock Up 1.3 %

Dynatrace stock opened at $56.20 on Friday. The company’s 50-day moving average price is $53.82 and its 200-day moving average price is $49.17. The company has a market cap of $16.77 billion, a PE ratio of 102.18, a price-to-earnings-growth ratio of 8.11 and a beta of 1.06. Dynatrace, Inc. has a twelve month low of $39.42 and a twelve month high of $61.41.

Analyst Ratings Changes

Several research firms recently weighed in on DT. Loop Capital lifted their target price on Dynatrace from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Dynatrace in a research note on Friday, November 8th. Guggenheim raised their target price on shares of Dynatrace from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. UBS Group started coverage on shares of Dynatrace in a report on Wednesday. They set a “neutral” rating and a $58.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on shares of Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.36.

Insider Buying and Selling

In other news, EVP Dan Zugelder sold 11,022 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $49.71, for a total value of $547,903.62. Following the completion of the sale, the executive vice president now owns 217,465 shares in the company, valued at approximately $10,810,185.15. This trade represents a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Lifshatz sold 5,000 shares of Dynatrace stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director now directly 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. Over the last quarter, insiders sold 66,022 shares of company stock worth $3,397,904. Corporate insiders own 0.59% of the company’s stock.

About Dynatrace

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.