Dynatrace (NYSE:DT) Shares Down 3% – Here’s What Happened

Dynatrace, Inc. (NYSE:DT)’s stock price dropped 3% during mid-day trading on Monday . The company traded as low as $52.59 and last traded at $53.14. Approximately 321,462 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,029,811 shares. The stock had previously closed at $54.81.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DT shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $65.00 price objective on shares of Dynatrace in a research note on Wednesday, November 6th. Guggenheim cut shares of Dynatrace from a “buy” rating to a “neutral” rating in a report on Monday. Jefferies Financial Group increased their target price on shares of Dynatrace from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Loop Capital lifted their price target on Dynatrace from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, UBS Group assumed coverage on Dynatrace in a research report on Wednesday, November 27th. They set a “neutral” rating and a $58.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.08.

Dynatrace Price Performance

The stock’s fifty day moving average is $54.79 and its 200-day moving average is $50.94. The stock has a market cap of $15.57 billion, a PE ratio of 94.85, a price-to-earnings-growth ratio of 8.20 and a beta of 1.02.

Insider Activity

In related news, EVP Bernd Greifeneder sold 50,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total transaction of $2,891,500.00. Following the completion of the transaction, the executive vice president now owns 1,007,038 shares of the company’s stock, valued at approximately $58,237,007.54. This trade represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Lifshatz sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the director now directly owns 41,471 shares in the company, valued at approximately $2,280,905. The trade was a 10.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,027 shares of company stock valued at $3,168,084 in the last 90 days. Company insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. acquired a new position in shares of Dynatrace in the second quarter worth $26,000. Riverview Trust Co grew its stake in Dynatrace by 70.6% during the 3rd quarter. Riverview Trust Co now owns 621 shares of the company’s stock worth $33,000 after purchasing an additional 257 shares in the last quarter. Paladin Wealth LLC purchased a new stake in Dynatrace during the 3rd quarter worth about $38,000. UMB Bank n.a. raised its position in Dynatrace by 292.3% in the 3rd quarter. UMB Bank n.a. now owns 718 shares of the company’s stock valued at $38,000 after purchasing an additional 535 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Dynatrace in the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Dynatrace Company 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.