Dynatrace, Inc. $DT Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 9.5% in the second quarter, Holdings Channel reports. The firm owned 681,010 shares of the company’s stock after acquiring an additional 59,149 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Dynatrace were worth $37,599,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH boosted its position in Dynatrace by 30.0% during the 1st quarter. Keybank National Association OH now owns 738,230 shares of the company’s stock worth $34,808,000 after purchasing an additional 170,380 shares during the period. Bridges Investment Management Inc. boosted its position in Dynatrace by 82.4% during the 1st quarter. Bridges Investment Management Inc. now owns 24,873 shares of the company’s stock worth $1,173,000 after purchasing an additional 11,234 shares during the period. Teacher Retirement System of Texas purchased a new stake in Dynatrace during the 1st quarter worth $2,175,000. Belpointe Asset Management LLC purchased a new stake in Dynatrace during the 1st quarter worth $327,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Dynatrace by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,218,892 shares of the company’s stock worth $104,621,000 after purchasing an additional 166,648 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DT shares. Citigroup decreased their price target on shares of Dynatrace from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Wall Street Zen cut shares of Dynatrace from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Oppenheimer initiated coverage on shares of Dynatrace in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $65.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of Dynatrace from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dynatrace in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Dynatrace currently has an average rating of “Moderate Buy” and an average target price of $62.96.

Insider Transactions at Dynatrace

In related news, EVP Dan Zugelder sold 7,503 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $50.00, for a total transaction of $375,150.00. Following the sale, the executive vice president owned 1,420 shares in the company, valued at $71,000. This represents a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Daniel S. Yates sold 2,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $49.89, for a total transaction of $99,780.00. Following the sale, the chief accounting officer owned 22,555 shares in the company, valued at approximately $1,125,268.95. This trade represents a 8.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,602 shares of company stock valued at $529,579. Insiders own 0.57% of the company’s stock.

Dynatrace Stock Performance

Shares of DT stock opened at $49.73 on Wednesday. Dynatrace, Inc. has a one year low of $39.30 and a one year high of $63.00. The company’s 50-day simple moving average is $49.12 and its 200-day simple moving average is $50.56. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 4.46 and a beta of 0.88.

Dynatrace (NYSE:DT) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.42 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 for the quarter, compared to analysts’ expectations of $467.39 million. During the same quarter last year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that Dynatrace, Inc. will post 0.68 EPS for the current year.

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.