Bridgewater Associates LP Sells 30,611 Shares of Dynatrace, Inc. (NYSE:DT)

Bridgewater Associates LP trimmed its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 21.1% in the 3rd quarter, Holdings Channel reports. The firm owned 114,628 shares of the company’s stock after selling 30,611 shares during the quarter. Bridgewater Associates LP’s holdings in Dynatrace were worth $6,129,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DT. Eminence Capital LP purchased a new position in Dynatrace in the 2nd quarter worth about $158,369,000. Assenagon Asset Management S.A. raised its stake in shares of Dynatrace by 1,146.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock valued at $98,792,000 after acquiring an additional 2,030,915 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Dynatrace by 285.7% in the second quarter. Marshall Wace LLP now owns 1,389,727 shares of the company’s stock valued at $62,176,000 after purchasing an additional 1,029,387 shares during the period. Dorsal Capital Management LP grew its stake in Dynatrace by 118.8% in the second quarter. Dorsal Capital Management LP now owns 1,750,000 shares of the company’s stock worth $78,295,000 after purchasing an additional 950,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Dynatrace by 70.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,934,499 shares of the company’s stock worth $86,549,000 after purchasing an additional 801,718 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Dynatrace Stock Up 1.3 %

Shares of NYSE DT opened at $56.20 on Friday. Dynatrace, Inc. has a 52 week low of $39.42 and a 52 week high of $61.41. The business’s 50 day moving average price is $53.82 and its 200 day moving average price is $49.17. The firm has a market cap of $16.77 billion, a P/E ratio of 102.18, a P/E/G ratio of 8.11 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DT shares. Needham & Company LLC reiterated a “hold” rating on shares of Dynatrace in a report on Friday, November 8th. BMO Capital Markets increased their target price on shares of Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on shares of Dynatrace from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. UBS Group initiated coverage on shares of Dynatrace in a research note on Wednesday. They set a “neutral” rating and a $58.00 price objective on the stock. Finally, Scotiabank boosted their price objective on shares of Dynatrace from $55.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.36.

Insider Buying and Selling at Dynatrace

In related news, Director Stephen J. Lifshatz sold 5,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the director now directly owns 41,471 shares in the company, valued at $2,280,905. The trade was a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dan Zugelder sold 11,022 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $49.71, for a total value of $547,903.62. Following the sale, the executive vice president now directly owns 217,465 shares in the company, valued at $10,810,185.15. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,022 shares of company stock worth $3,397,904. Company insiders own 0.59% of the company’s stock.

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.