Royal Bank of Canada Issues Positive Forecast for Dynatrace (NYSE:DT) Stock Price

Dynatrace (NYSE:DT) had its target price upped by Royal Bank of Canada from $60.00 to $65.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also issued reports on DT. BNP Paribas began coverage on Dynatrace in a research report on Tuesday, October 8th. They set a “neutral” rating and a $52.00 target price on the stock. Truist Financial raised their target price on shares of Dynatrace from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their price objective on Dynatrace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $65.00 price objective on shares of Dynatrace in a report on Wednesday, November 6th. Finally, UBS Group began coverage on shares of Dynatrace in a report on Wednesday, November 27th. They issued a “neutral” rating and a $58.00 price target on the stock. 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, Dynatrace currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.08.

Dynatrace Stock Performance

NYSE:DT opened at $54.81 on Friday. The stock has a 50-day simple moving average of $54.86 and a 200-day simple moving average of $50.81. The stock has a market cap of $16.36 billion, a P/E ratio of 99.65, a P/E/G ratio of 8.20 and a beta of 1.02. Dynatrace has a 1 year low of $39.42 and a 1 year high of $61.41.

Insider Buying and Selling

In other Dynatrace news, EVP Bernd Greifeneder sold 50,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total value of $2,891,500.00. Following the transaction, the executive vice president now owns 1,007,038 shares in the company, valued at $58,237,007.54. The trade was a 4.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen J. Lifshatz sold 5,000 shares of Dynatrace stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the sale, the director now owns 41,471 shares in the company, valued at $2,280,905. This represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,027 shares of company stock valued at $3,168,084. 0.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Everence Capital Management Inc. acquired a new position in shares of Dynatrace during the fourth quarter valued at $469,000. GAMMA Investing LLC grew its stake in shares of Dynatrace by 85.8% in the 4th quarter. GAMMA Investing LLC now owns 3,637 shares of the company’s stock worth $198,000 after purchasing an additional 1,680 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Dynatrace by 11.9% in the fourth quarter. Versant Capital Management Inc now owns 1,933 shares of the company’s stock valued at $105,000 after buying an additional 206 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Dynatrace by 21.9% in the 3rd quarter. Retirement Systems of Alabama now owns 361,884 shares of the company’s stock valued at $19,350,000 after purchasing an additional 64,999 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Dynatrace during the third quarter valued at approximately $300,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.