Sumitomo Mitsui Trust Holdings Inc. Reduces Position in Dynatrace, Inc. (NYSE:DT)

Sumitomo Mitsui Trust Holdings Inc. cut its position in Dynatrace, Inc. (NYSE:DT) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 532,149 shares of the company’s stock after selling 6,224 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Dynatrace were worth $29,103,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DT. Price T Rowe Associates Inc. MD increased its position in shares of Dynatrace by 2,277.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,934,130 shares of the company’s stock valued at $293,315,000 after purchasing an additional 6,642,452 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Dynatrace by 11,824.1% in the 3rd quarter. American Century Companies Inc. now owns 2,411,771 shares of the company’s stock valued at $112,702,000 after buying an additional 2,391,545 shares in the last quarter. State Street Corp boosted its holdings in shares of Dynatrace by 55.7% in the 3rd quarter. State Street Corp now owns 6,202,122 shares of the company’s stock valued at $215,896,000 after buying an additional 2,218,679 shares in the last quarter. Norges Bank acquired a new position in shares of Dynatrace in the 4th quarter valued at $82,232,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Dynatrace in the 1st quarter valued at $84,600,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Dynatrace news, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.60, for a total transaction of $749,178,065.40. Following the completion of the transaction, the insider now directly owns 16,114,344 shares in the company, valued at approximately $847,614,494.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dynatrace news, CEO Rick M. Mcconnell sold 1,991 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $51.91, for a total transaction of $103,352.81. Following the completion of the transaction, the chief executive officer now directly owns 514,106 shares in the company, valued at approximately $26,687,242.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.60, for a total transaction of $749,178,065.40. Following the transaction, the insider now owns 16,114,344 shares of the company’s stock, valued at $847,614,494.40. The disclosure for this sale can be found here. Insiders sold 14,278,591 shares of company stock worth $750,893,396 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Dynatrace from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $70.00 in a report on Friday, January 5th. Truist Financial upped their target price on shares of Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Morgan Stanley initiated coverage on shares of Dynatrace in a research note on Tuesday, February 13th. They set an “equal weight” rating and a $60.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Dynatrace from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, April 1st. Finally, Capital One Financial initiated coverage on shares of Dynatrace in a research note on Wednesday, February 21st. They set an “overweight” rating and a $64.00 price target for the company. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Dynatrace Stock Down 1.9 %

Shares of DT opened at $45.40 on Monday. The company has a 50-day simple moving average of $47.55 and a 200-day simple moving average of $50.89. The company has a market capitalization of $13.37 billion, a PE ratio of 68.79, a P/E/G ratio of 3.89 and a beta of 1.07. Dynatrace, Inc. has a 52-week low of $40.43 and a 52-week high of $61.41.

Dynatrace (NYSE:DT) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The business had revenue of $365.10 million during the quarter, compared to the consensus estimate of $357.64 million. Dynatrace had a net margin of 14.44% and a return on equity of 11.92%. On average, research analysts anticipate that Dynatrace, Inc. will post 0.62 EPS for the current year.

About Dynatrace

Dynatrace, Inc provides a security platform for multicloud environments. It 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.