Dynatrace’s (DT) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Dynatrace (NYSE:DT) in a research note released on Tuesday morning,Benzinga reports.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on shares of Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays raised their target price on shares of Dynatrace from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. BTIG Research raised their target price on shares of Dynatrace from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank raised their target price on shares of Dynatrace from $62.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Dynatrace has an average rating of “Moderate Buy” and an average price target of $61.74.

Dynatrace Price Performance

DT stock opened at $62.31 on Tuesday. The company’s 50 day simple moving average is $55.66 and its 200-day simple moving average is $53.45. The firm has a market capitalization of $18.65 billion, a PE ratio of 38.94, a P/E/G ratio of 6.93 and a beta of 1.04. Dynatrace has a 12 month low of $39.42 and a 12 month high of $63.00.

Insider Activity

In related news, CEO Rick M. Mcconnell sold 40,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $61.42, for a total transaction of $2,456,800.00. Following the completion of the sale, the chief executive officer now directly owns 548,684 shares of the company’s stock, valued at approximately $33,700,171.28. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bernd Greifeneder sold 50,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total transaction of $2,891,500.00. Following the sale, the executive vice president now directly owns 1,007,038 shares of the company’s stock, valued at approximately $58,237,007.54. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,459 shares of company stock valued at $7,634,682. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Dynatrace

A number of large investors have recently added to or reduced their stakes in DT. Dragoneer Investment Group LLC acquired a new stake in Dynatrace during the 4th quarter valued at $242,380,000. Alyeska Investment Group L.P. acquired a new stake in Dynatrace during the 4th quarter valued at $204,000,000. Norges Bank acquired a new stake in Dynatrace during the 4th quarter valued at $192,284,000. Holocene Advisors LP acquired a new position in Dynatrace during the 3rd quarter worth $126,592,000. Finally, Raymond James Financial Inc. acquired a new position in Dynatrace during the 4th quarter worth $102,209,000. 94.28% of the stock is owned by institutional investors and hedge funds.

About Dynatrace

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.