Eminence Capital LP Reduces Position in Dynatrace, Inc. (NYSE:DT)

Eminence Capital LP trimmed its stake in Dynatrace, Inc. (NYSE:DT) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,668,160 shares of the company’s stock after selling 491,562 shares during the quarter. Dynatrace makes up 2.2% of Eminence Capital LP’s portfolio, making the stock its 20th biggest holding. Eminence Capital LP owned approximately 0.89% of Dynatrace worth $145,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DT. QRG Capital Management Inc. increased its stake in Dynatrace by 16.9% in the fourth quarter. QRG Capital Management Inc. now owns 64,099 shares of the company’s stock valued at $3,484,000 after purchasing an additional 9,251 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Dynatrace in the 4th quarter valued at $842,000. Allstate Corp acquired a new stake in shares of Dynatrace during the 4th quarter worth $471,000. Artemis Investment Management LLP raised its position in shares of Dynatrace by 18.4% in the 4th quarter. Artemis Investment Management LLP now owns 343,161 shares of the company’s stock worth $18,651,000 after buying an additional 53,271 shares during the period. Finally, Diversified Trust Co acquired a new position in Dynatrace in the fourth quarter valued at $748,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Dynatrace Stock Down 0.5 %

Shares of NYSE:DT opened at $47.37 on Wednesday. The firm has a 50-day simple moving average of $47.44 and a 200 day simple moving average of $52.81. Dynatrace, Inc. has a fifty-two week low of $39.30 and a fifty-two week high of $63.00. The company has a market cap of $14.18 billion, a PE ratio of 29.61, a P/E/G ratio of 7.05 and a beta of 0.95.

Insider Activity

In other Dynatrace news, CEO Rick M. Mcconnell sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 548,684 shares of the company’s stock, valued at $33,700,171.28. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen J. Lifshatz sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $60.88, for a total transaction of $152,200.00. Following the completion of the sale, the director now owns 36,471 shares in the company, valued at $2,220,354.48. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,432 shares of company stock valued at $7,159,599. 0.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DT. Rosenblatt Securities restated a “buy” rating and issued a $67.00 price objective on shares of Dynatrace in a report on Thursday, February 6th. UBS Group lowered their target price on Dynatrace from $62.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Wedbush reissued an “outperform” rating and set a $67.00 price target on shares of Dynatrace in a research report on Friday, January 31st. BMO Capital Markets dropped their price target on shares of Dynatrace from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Finally, Stifel Nicolaus upped their price objective on shares of Dynatrace from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Dynatrace presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.41.

Dynatrace Profile

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.