Jericho Capital Asset Management L.P. Cuts Stock Holdings in Dynatrace, Inc. $DT

Jericho Capital Asset Management L.P. lowered its stake in Dynatrace, Inc. (NYSE:DT) by 35.0% during the 1st quarter, Holdings Channel reports. The firm owned 2,527,742 shares of the company’s stock after selling 1,359,301 shares during the quarter. Dynatrace makes up about 2.2% of Jericho Capital Asset Management L.P.’s holdings, making the stock its 17th biggest position. Jericho Capital Asset Management L.P.’s holdings in Dynatrace were worth $119,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional bought a new stake in shares of Dynatrace in the first quarter worth about $40,000. Brooklyn Investment Group grew its holdings in Dynatrace by 761.9% during the 1st quarter. Brooklyn Investment Group now owns 905 shares of the company’s stock valued at $43,000 after buying an additional 800 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Dynatrace in the 1st quarter worth approximately $45,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Dynatrace by 35.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 979 shares of the company’s stock worth $46,000 after acquiring an additional 256 shares in the last quarter. Finally, Global Financial Private Client LLC boosted its position in shares of Dynatrace by 344.0% during the 1st quarter. Global Financial Private Client LLC now owns 1,110 shares of the company’s stock valued at $52,000 after acquiring an additional 860 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Dynatrace Trading Down 0.8%

DT stock opened at $49.83 on Friday. The stock has a market cap of $15.02 billion, a PE ratio of 30.57, a P/E/G ratio of 4.42 and a beta of 0.91. 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 $51.57 and a 200 day moving average price of $51.10.

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

Insider Activity

In related news, EVP Dan Zugelder sold 15,824 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $54.52, for a total transaction of $862,724.48. Following the completion of the transaction, the executive vice president owned 17,242 shares in the company, valued at $940,033.84. The trade was a 47.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DT shares. Bank of America boosted their price target on shares of Dynatrace from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Jefferies Financial Group reissued a “buy” rating on shares of Dynatrace in a research note on Wednesday, May 14th. Rosenblatt Securities restated a “buy” rating and set a $67.00 target price on shares of Dynatrace in a research report on Monday, August 4th. The Goldman Sachs Group lifted their price target on Dynatrace from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Wall Street Zen cut Dynatrace from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

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.