OFI Invest Asset Management Acquires 5,613 Shares of Dynatrace, Inc. (NYSE:DT)

OFI Invest Asset Management lifted its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 1,949.0% in the second quarter, Holdings Channel.com reports. The fund owned 5,901 shares of the company’s stock after purchasing an additional 5,613 shares during the quarter. OFI Invest Asset Management’s holdings in Dynatrace were worth $246,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Jericho Capital Asset Management L.P. acquired a new stake in shares of Dynatrace during the 1st quarter worth about $133,701,000. Norges Bank acquired a new stake in shares of Dynatrace during the fourth quarter worth approximately $148,515,000. Vanguard Group Inc. raised its stake in shares of Dynatrace by 9.8% in the fourth quarter. Vanguard Group Inc. now owns 26,264,280 shares of the company’s stock valued at $1,436,393,000 after acquiring an additional 2,348,246 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Dynatrace by 1,146.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock worth $98,792,000 after acquiring an additional 2,030,915 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its position in Dynatrace by 670.2% during the 1st quarter. Congress Asset Management Co. MA now owns 1,815,931 shares of the company’s stock worth $84,332,000 after acquiring an additional 1,580,162 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Scotiabank lifted their price objective on Dynatrace from $52.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 8th. Piper Sandler assumed coverage on shares of Dynatrace in a research report on Thursday, June 27th. They set a “neutral” rating and a $50.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Dynatrace in a report on Tuesday, August 6th. Robert W. Baird dropped their target price on shares of Dynatrace from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, May 16th. Finally, BMO Capital Markets upped their target price on shares of Dynatrace from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Six 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 stock presently has an average rating of “Moderate Buy” and an average target price of $59.70.

Dynatrace Trading Up 1.3 %

Shares of NYSE:DT traded up $0.65 during trading on Friday, hitting $49.58. 3,108,736 shares of the company’s stock traded hands, compared to its average volume of 3,599,396. The company has a 50-day moving average price of $44.71 and a 200-day moving average price of $46.92. Dynatrace, Inc. has a 52 week low of $39.42 and a 52 week high of $61.41. The company has a market cap of $14.79 billion, a price-to-earnings ratio of 95.35, a price-to-earnings-growth ratio of 6.40 and a beta of 1.04.

Dynatrace (NYSE:DT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Dynatrace had a net margin of 10.81% and a return on equity of 9.89%. The firm had revenue of $399.20 million for the quarter, compared to analyst estimates of $392.22 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The business’s revenue was up 19.9% on a year-over-year basis. On average, analysts predict that Dynatrace, Inc. will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dan Zugelder sold 15,404 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $44.22, for a total transaction of $681,164.88. Following the completion of the transaction, the executive vice president now directly owns 237,772 shares in the company, valued at $10,514,277.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $46.41, for a total transaction of $2,320,500.00. Following the transaction, the chief executive officer now owns 732,491 shares of the company’s stock, valued at approximately $33,994,907.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dan Zugelder sold 15,404 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $44.22, for a total value of $681,164.88. Following the completion of the sale, the executive vice president now directly owns 237,772 shares of the company’s stock, valued at approximately $10,514,277.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,274 shares of company stock valued at $3,883,271. Company insiders own 0.54% of the company’s stock.

Dynatrace Company Profile

Dynatrace, Inc provides a security platform for multicloud environments. It 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.