Dynatrace, Inc. (NYSE:DT) Short Interest Update

Dynatrace, Inc. (NYSE:DT) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 6,950,000 shares, a drop of 5.1% from the October 15th total of 7,320,000 shares. Based on an average trading volume of 2,720,000 shares, the days-to-cover ratio is currently 2.6 days.

Dynatrace Price Performance

Shares of Dynatrace stock opened at $52.43 on Tuesday. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 95.33, a PEG ratio of 7.34 and a beta of 1.06. Dynatrace has a 1 year low of $39.42 and a 1 year high of $61.41. The firm’s 50-day moving average is $53.28 and its 200 day moving average is $48.71.

Analyst Upgrades and Downgrades

DT has been the subject of several analyst reports. Scotiabank increased their target price on Dynatrace from $55.00 to $62.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim lifted their target price on shares of Dynatrace from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Loop Capital upped their price target on shares of Dynatrace from $45.00 to $55.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, BMO Capital Markets raised their price target on shares of Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Insider Activity

In related news, EVP Dan Zugelder sold 11,022 shares of the stock in a transaction 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 transaction, the executive vice president now owns 217,465 shares of the company’s stock, valued at $10,810,185.15. This represents a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen J. Lifshatz sold 5,000 shares of Dynatrace stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the sale, the director now directly owns 41,471 shares of the company’s stock, valued at approximately $2,280,905. This trade represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,022 shares of company stock worth $3,397,904. 0.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DT. Vanguard Group Inc. grew its stake in shares of Dynatrace by 6.4% in the first quarter. Vanguard Group Inc. now owns 27,945,251 shares of the company’s stock worth $1,297,777,000 after acquiring an additional 1,680,971 shares during the period. State Street Corp grew its position in Dynatrace by 14.6% in the 3rd quarter. State Street Corp now owns 9,468,594 shares of the company’s stock worth $506,286,000 after purchasing an additional 1,207,621 shares during the period. Janus Henderson Group PLC raised its stake in Dynatrace by 8.7% during the 1st quarter. Janus Henderson Group PLC now owns 7,279,365 shares of the company’s stock valued at $338,053,000 after buying an additional 583,220 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Dynatrace by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 6,701,539 shares of the company’s stock valued at $299,827,000 after buying an additional 782,588 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Dynatrace by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock worth $273,610,000 after buying an additional 884,673 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.