Point72 Hong Kong Ltd Sells 174,211 Shares of Dynatrace, Inc. (NYSE:DT)

Point72 Hong Kong Ltd reduced its stake in Dynatrace, Inc. (NYSE:DT) by 97.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 4,849 shares of the company’s stock after selling 174,211 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Dynatrace were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DT. American Century Companies Inc. lifted 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 in the last quarter. RGM Capital LLC boosted its stake in Dynatrace by 12.8% in the third quarter. RGM Capital LLC now owns 4,342,803 shares of the company’s stock worth $232,210,000 after buying an additional 494,028 shares in the last quarter. Eminence Capital LP bought a new position in shares of Dynatrace during the 2nd quarter valued at $158,369,000. Westfield Capital Management Co. LP grew its stake in shares of Dynatrace by 31.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,703,772 shares of the company’s stock valued at $144,571,000 after buying an additional 648,808 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in 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 during the period. 94.28% of the stock is owned by institutional investors.

Insider Transactions at Dynatrace

In other news, EVP Dan Zugelder sold 11,022 shares of Dynatrace stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $49.71, for a total transaction 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. This trade represents a 4.82 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the transaction, the chief executive officer now owns 650,587 shares of the company’s stock, valued at approximately $33,505,230.50. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,022 shares of company stock valued at $3,397,904 over the last 90 days. Company insiders own 0.59% of the company’s stock.

Dynatrace Stock Performance

Shares of DT stock opened at $56.41 on Tuesday. The stock has a fifty day simple moving average of $53.82 and a two-hundred day simple moving average of $49.20. The firm has a market capitalization of $16.84 billion, a PE ratio of 102.56, a PEG ratio of 8.21 and a beta of 1.06. Dynatrace, Inc. has a 52-week low of $39.42 and a 52-week high of $61.41.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Dynatrace in a research report on Friday, November 8th. Barclays upgraded shares of Dynatrace from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $64.00 in a report on Monday, October 7th. UBS Group began coverage on shares of Dynatrace in a research note on Wednesday, November 27th. They issued a “neutral” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Loop Capital lifted their price target on shares of Dynatrace from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.