Avalon Global Asset Management LLC Purchases 5,000 Shares of Dynatrace, Inc. (NYSE:DT)

Avalon Global Asset Management LLC grew its position in shares of Dynatrace, Inc. (NYSE:DT) by 8.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 65,000 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Avalon Global Asset Management LLC’s holdings in Dynatrace were worth $2,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Dynatrace during the 4th quarter valued at $148,515,000. PNC Financial Services Group Inc. increased its stake in Dynatrace by 6.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,379 shares of the company’s stock worth $1,443,000 after purchasing an additional 1,632 shares during the period. UBS Group AG increased its stake in Dynatrace by 14.5% in the fourth quarter. UBS Group AG now owns 353,880 shares of the company’s stock worth $19,354,000 after purchasing an additional 44,842 shares during the period. Coldstream Capital Management Inc. increased its stake in Dynatrace by 6.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,659 shares of the company’s stock worth $255,000 after purchasing an additional 270 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Dynatrace by 36.1% in the fourth quarter. Wells Fargo & Company MN now owns 217,747 shares of the company’s stock worth $11,909,000 after purchasing an additional 57,810 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Dynatrace Stock Performance

Shares of DT stock opened at $51.34 on Friday. Dynatrace, Inc. has a fifty-two week low of $39.42 and a fifty-two week high of $61.41. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 98.73, a PEG ratio of 7.63 and a beta of 1.05. The stock’s 50-day simple moving average is $47.64 and its 200-day simple moving average is $46.54.

Dynatrace (NYSE:DT) last released its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Dynatrace had a return on equity of 9.77% and a net margin of 10.36%. The firm had revenue of $399.20 million during the quarter, compared to the consensus estimate of $392.22 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue was up 19.9% compared to the same quarter last year. As a group, equities analysts forecast that Dynatrace, Inc. will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

DT has been the topic of a number of recent analyst reports. Loop Capital reduced their target price on Dynatrace from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, June 26th. Wedbush reissued a “neutral” rating and set a $55.00 price target on shares of Dynatrace in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target on Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. BMO Capital Markets increased their price target on Dynatrace from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Dynatrace in a research report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Dynatrace has an average rating of “Moderate Buy” and a consensus price target of $59.70.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief executive officer now owns 650,587 shares of the company’s stock, valued at $33,505,230.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dynatrace news, EVP Dan Zugelder sold 11,022 shares of the business’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 value of $547,903.62. Following the completion of the transaction, the executive vice president now directly owns 217,465 shares of the company’s stock, valued at $10,810,185.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rick M. Mcconnell sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $51.50, for a total value of $2,575,000.00. Following the completion of the transaction, the chief executive officer now directly owns 650,587 shares of the company’s stock, valued at $33,505,230.50. The disclosure for this sale can be found here. Insiders sold 76,426 shares of company stock valued at $3,804,069 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Dynatrace 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.