Concentric Capital Strategies LP Cuts Stock Holdings in Dynatrace, Inc. $DT

Concentric Capital Strategies LP trimmed its stake in shares of Dynatrace, Inc. (NYSE:DT) by 53.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,594 shares of the company’s stock after selling 33,562 shares during the period. Concentric Capital Strategies LP’s holdings in Dynatrace were worth $1,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Curi RMB Capital LLC grew its stake in shares of Dynatrace by 2.0% in the 1st quarter. Curi RMB Capital LLC now owns 58,157 shares of the company’s stock worth $2,742,000 after buying an additional 1,125 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Dynatrace in the 1st quarter worth $189,000. Amundi grew its stake in shares of Dynatrace by 39.7% in the 1st quarter. Amundi now owns 1,081,621 shares of the company’s stock worth $49,387,000 after buying an additional 307,192 shares in the last quarter. Graham Capital Management L.P. grew its stake in shares of Dynatrace by 4.4% in the 1st quarter. Graham Capital Management L.P. now owns 70,718 shares of the company’s stock worth $3,334,000 after buying an additional 2,989 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Dynatrace in the 1st quarter worth $11,788,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Dan Zugelder sold 15,824 shares of Dynatrace stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $54.52, for a total transaction of $862,724.48. Following the completion of the sale, the executive vice president owned 17,242 shares in the company, valued at $940,033.84. This trade represents a 47.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Dynatrace from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Citigroup dropped their price objective on shares of Dynatrace from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Oppenheimer initiated coverage on shares of Dynatrace in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $65.00 price objective for the company. Royal Bank Of Canada lifted their price target on shares of Dynatrace from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley set a $55.00 price target on shares of Dynatrace in a research note on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.72.

Dynatrace Trading Down 0.5%

DT stock opened at $50.26 on Thursday. Dynatrace, Inc. has a 12 month low of $39.30 and a 12 month high of $63.00. The company has a 50-day moving average price of $51.68 and a 200 day moving average price of $51.18. The stock has a market cap of $15.15 billion, a PE ratio of 30.84, a P/E/G ratio of 4.45 and a beta of 0.91.

Dynatrace (NYSE:DT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Dynatrace had a net margin of 27.75% and a return on equity of 9.15%. The company had revenue of $477.35 million during the quarter, compared to analyst estimates of $467.39 million. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Sell-side analysts forecast that Dynatrace, Inc. will post 0.68 EPS for the current year.

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.