DnB Asset Management AS Buys 1,728 Shares of Dynatrace, Inc. (NYSE:DT)

DnB Asset Management AS increased its stake in shares of Dynatrace, Inc. (NYSE:DT) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,482 shares of the company’s stock after purchasing an additional 1,728 shares during the quarter. DnB Asset Management AS’s holdings in Dynatrace were worth $2,744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Systems of Alabama increased its holdings in shares of Dynatrace by 21.9% during the third quarter. Retirement Systems of Alabama now owns 361,884 shares of the company’s stock worth $19,350,000 after buying an additional 64,999 shares in the last quarter. Geode Capital Management LLC raised its position in Dynatrace by 20.8% in the third 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 last quarter. Synovus Financial Corp boosted its stake in shares of Dynatrace by 27.8% during the third quarter. Synovus Financial Corp now owns 64,093 shares of the company’s stock valued at $3,427,000 after purchasing an additional 13,957 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Dynatrace by 16.9% during the fourth quarter. QRG Capital Management Inc. now owns 64,099 shares of the company’s stock worth $3,484,000 after purchasing an additional 9,251 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Dynatrace in the fourth quarter valued at approximately $842,000. Institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stephen J. Lifshatz sold 2,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $60.88, for a total transaction of $152,200.00. Following the completion of the sale, the director now directly owns 36,471 shares of the company’s stock, valued at $2,220,354.48. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rick M. Mcconnell sold 40,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $61.42, for a total transaction of $2,456,800.00. Following the completion of the transaction, the chief executive officer now directly owns 548,684 shares in the company, valued at approximately $33,700,171.28. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,432 shares of company stock worth $7,159,599. Insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

DT has been the topic of several recent research reports. Scotiabank lifted their target price on shares of Dynatrace from $62.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. Truist Financial lifted their price target on shares of Dynatrace from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wedbush restated an “outperform” rating and issued a $67.00 price objective on shares of Dynatrace in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $67.00 target price on shares of Dynatrace in a report on Thursday, February 6th. Finally, Guggenheim reiterated a “neutral” rating on shares of Dynatrace in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.35.

Dynatrace Stock Performance

Shares of NYSE:DT opened at $47.10 on Tuesday. Dynatrace, Inc. has a 52-week low of $39.42 and a 52-week high of $63.00. The business’s 50 day simple moving average is $55.43 and its two-hundred day simple moving average is $54.43. The firm has a market cap of $14.10 billion, a P/E ratio of 29.44, a PEG ratio of 7.05 and a beta of 1.12.

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.