Dynatrace, Inc. (NYSE:DT) Shares Bought by Covea Finance

Covea Finance lifted its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 22.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 40,500 shares of the company’s stock after acquiring an additional 7,500 shares during the period. Covea Finance’s holdings in Dynatrace were worth $2,166,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in shares of Dynatrace by 3.8% during the first quarter. Bessemer Group Inc. now owns 6,128 shares of the company’s stock worth $284,000 after purchasing an additional 226 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Dynatrace by 76.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 530 shares of the company’s stock valued at $25,000 after buying an additional 230 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Dynatrace by 0.8% in the first quarter. State of Alaska Department of Revenue now owns 34,514 shares of the company’s stock worth $1,602,000 after buying an additional 260 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Dynatrace by 3.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 8,767 shares of the company’s stock worth $392,000 after acquiring an additional 266 shares during the period. Finally, Ameritas Investment Partners Inc. raised its position in Dynatrace by 0.4% during the first quarter. Ameritas Investment Partners Inc. now owns 68,647 shares of the company’s stock valued at $3,188,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

DT has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on Dynatrace from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wedbush reissued a “neutral” rating and issued a $55.00 price target on shares of Dynatrace in a report on Thursday, August 8th. Piper Sandler assumed coverage on shares of Dynatrace in a report on Thursday, June 27th. They set a “neutral” rating and a $50.00 price objective on the stock. Scotiabank boosted their target price on shares of Dynatrace from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 8th. Finally, Barclays upgraded Dynatrace from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $64.00 in a report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.04.

Insiders Place Their Bets

In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $51.50, for a total value of $2,575,000.00. Following the completion of the sale, the chief executive officer now owns 650,587 shares of the company’s stock, valued at approximately $33,505,230.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Dan Zugelder sold 15,404 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $44.22, for a total value of $681,164.88. Following the sale, the executive vice president now directly owns 237,772 shares of the company’s stock, valued at approximately $10,514,277.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rick M. Mcconnell sold 50,000 shares of Dynatrace stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the transaction, the chief executive officer now owns 650,587 shares of the company’s stock, valued at approximately $33,505,230.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,426 shares of company stock worth $3,804,069. Company insiders own 0.59% of the company’s stock.

Dynatrace Trading Up 0.7 %

Shares of NYSE DT traded up $0.38 during mid-day trading on Friday, reaching $55.13. The company had a trading volume of 2,204,421 shares, compared to its average volume of 3,424,474. The firm has a 50 day simple moving average of $50.49 and a two-hundred day simple moving average of $47.23. The stock has a market cap of $16.42 billion, a P/E ratio of 106.02, a PEG ratio of 7.93 and a beta of 1.06. Dynatrace, Inc. has a 52-week low of $39.42 and a 52-week high of $61.41.

Dynatrace (NYSE:DT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $399.20 million during the quarter, compared to the consensus estimate of $392.22 million. Dynatrace had a net margin of 10.36% and a return on equity of 9.77%. Dynatrace’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, equities analysts expect that Dynatrace, Inc. will post 0.71 EPS for the current year.

About Dynatrace

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.