Dynatrace (NYSE:DT) Given New $62.00 Price Target at UBS Group

Dynatrace (NYSE:DT) had its price objective raised by equities research analysts at UBS Group from $58.00 to $62.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 6.30% from the stock’s current price.

Other research analysts also recently issued reports about the company. Truist Financial raised their price objective on Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 target price on shares of Dynatrace in a report on Wednesday. Wedbush assumed coverage on Dynatrace in a report on Thursday, October 17th. They issued an “outperform” rating and a $67.00 target price on the stock. Barclays raised their target price on Dynatrace from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Cantor Fitzgerald lowered their target price on Dynatrace from $58.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.24.

Dynatrace Price Performance

Shares of DT stock traded up $0.56 during trading on Friday, reaching $58.33. The company had a trading volume of 1,576,712 shares, compared to its average volume of 3,627,809. The firm’s 50 day simple moving average is $54.75 and its two-hundred day simple moving average is $51.92. Dynatrace has a one year low of $39.42 and a one year high of $61.41. The company has a market capitalization of $17.41 billion, a PE ratio of 106.02, a PEG ratio of 8.34 and a beta of 1.02.

Insider Transactions at Dynatrace

In related news, EVP Bernd Greifeneder sold 50,000 shares of Dynatrace stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $57.83, for a total value of $2,891,500.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its stake in Dynatrace by 14.6% in the 3rd quarter. State Street Corp now owns 9,468,594 shares of the company’s stock valued at $506,286,000 after purchasing an additional 1,207,621 shares during the period. Geode Capital Management LLC boosted its stake in Dynatrace by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock valued at $273,610,000 after purchasing an additional 884,673 shares during the period. RGM Capital LLC lifted its position in shares of Dynatrace by 12.8% during the 3rd quarter. RGM Capital LLC now owns 4,342,803 shares of the company’s stock valued at $232,210,000 after acquiring an additional 494,028 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Dynatrace by 31.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,703,772 shares of the company’s stock valued at $144,571,000 after acquiring an additional 648,808 shares during the period. Finally, Congress Asset Management Co. lifted its position in shares of Dynatrace by 23.9% during the 3rd quarter. Congress Asset Management Co. now owns 2,501,451 shares of the company’s stock valued at $133,753,000 after acquiring an additional 482,017 shares during the period. 94.28% of the stock is currently owned by institutional investors.

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.