State of Michigan Retirement System Has $2.74 Million Stock Holdings in Dynatrace, Inc. (NYSE:DT)

State of Michigan Retirement System lifted its position in Dynatrace, Inc. (NYSE:DT) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,900 shares of the company’s stock after acquiring an additional 1,700 shares during the period. State of Michigan Retirement System’s holdings in Dynatrace were worth $2,735,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Dynatrace in the 4th quarter valued at approximately $25,000. DSM Capital Partners LLC acquired a new stake in Dynatrace during the 4th quarter worth approximately $28,000. NewSquare Capital LLC acquired a new stake in Dynatrace during the 4th quarter worth approximately $32,000. Rise Advisors LLC acquired a new stake in Dynatrace during the 1st quarter worth approximately $30,000. Finally, Planned Solutions Inc. acquired a new stake in Dynatrace during the 4th quarter worth approximately $38,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler assumed coverage on shares of Dynatrace in a report on Thursday, June 27th. They set a “neutral” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Dynatrace from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, April 1st. Wells Fargo & Company decreased their price target on shares of Dynatrace from $75.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. TD Cowen decreased their price target on shares of Dynatrace from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Robert W. Baird decreased their price target 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. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.96.

Insider Transactions at Dynatrace

In other news, CEO Rick M. Mcconnell sold 50,000 shares of Dynatrace stock in a transaction 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 completion of the sale, the chief executive officer now owns 732,491 shares of the company’s stock, valued at $33,994,907.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Rick M. Mcconnell sold 50,000 shares of Dynatrace stock in a transaction 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 completion of the sale, the chief executive officer now owns 732,491 shares of the company’s stock, valued at $33,994,907.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dan Zugelder sold 18,870 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $46.72, for a total value of $881,606.40. Following the completion of the transaction, the executive vice president now directly owns 253,176 shares of the company’s stock, valued at approximately $11,828,382.72. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Dynatrace Price Performance

DT stock opened at $44.87 on Thursday. The company has a fifty day moving average price of $46.01 and a two-hundred day moving average price of $49.41. Dynatrace, Inc. has a one year low of $42.94 and a one year high of $61.41. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 86.29, a price-to-earnings-growth ratio of 6.76 and a beta of 1.04.

Dynatrace (NYSE:DT) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Dynatrace had a return on equity of 9.89% and a net margin of 10.81%. The company had revenue of $380.85 million for the quarter, compared to the consensus estimate of $375.20 million. Research analysts anticipate that Dynatrace, Inc. will post 0.71 EPS for the current fiscal 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.