Cinctive Capital Management LP Trims Stake in Dynatrace, Inc. (NYSE:DT)

Cinctive Capital Management LP lessened its position in Dynatrace, Inc. (NYSE:DT) by 30.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 306,672 shares of the company’s stock after selling 137,362 shares during the quarter. Dynatrace makes up about 0.9% of Cinctive Capital Management LP’s investment portfolio, making the stock its 23rd largest holding. Cinctive Capital Management LP owned about 0.10% of Dynatrace worth $16,398,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DT. Concentric Capital Strategies LP purchased a new position in Dynatrace during the third quarter valued at $3,336,000. Benjamin Edwards Inc. increased its stake in shares of Dynatrace by 4,660.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 25,755 shares of the company’s stock worth $1,377,000 after acquiring an additional 25,214 shares in the last quarter. Atom Investors LP purchased a new position in Dynatrace during the 3rd quarter valued at about $981,000. Avala Global LP boosted its stake in Dynatrace by 29.7% during the third quarter. Avala Global LP now owns 1,313,227 shares of the company’s stock worth $70,218,000 after acquiring an additional 301,027 shares in the last quarter. Finally, JAT Capital Mgmt LP purchased a new stake in Dynatrace in the third quarter worth about $9,357,000. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DT has been the topic of several recent research reports. BMO Capital Markets upped their price target on Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays upgraded shares of Dynatrace from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $52.00 to $64.00 in a research note on Monday, October 7th. Jefferies Financial Group lifted their target price on shares of Dynatrace from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. BTIG Research increased their price target on shares of Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, BNP Paribas assumed coverage on shares of Dynatrace in a research report on Tuesday, October 8th. They set a “neutral” rating and a $52.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.36.

Insider Transactions at Dynatrace

In related news, Director Stephen J. Lifshatz sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dan Zugelder sold 11,022 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 approximately $10,810,185.15. The trade was a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,022 shares of company stock worth $3,397,904 in the last 90 days. 0.59% of the stock is currently owned by insiders.

Dynatrace Trading Up 1.3 %

Shares of NYSE DT opened at $56.19 on Monday. Dynatrace, Inc. has a 12-month low of $39.42 and a 12-month high of $61.41. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 102.16, a price-to-earnings-growth ratio of 8.21 and a beta of 1.06. The firm has a 50 day moving average of $53.82 and a 200 day moving average of $49.20.

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.