Fred Alger Management LLC Purchases 880 Shares of Dynatrace, Inc. (NYSE:DT)

Fred Alger Management LLC increased its position in Dynatrace, Inc. (NYSE:DT) by 99.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,761 shares of the company’s stock after acquiring an additional 880 shares during the quarter. Fred Alger Management LLC’s holdings in Dynatrace were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Eminence Capital LP bought a new position in Dynatrace in the second quarter worth approximately $158,369,000. Assenagon Asset Management S.A. lifted its position in 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 purchasing an additional 2,030,915 shares in the last quarter. Marshall Wace LLP grew its holdings in Dynatrace by 285.7% during 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 increased its position 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 buying an additional 950,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Dynatrace by 70.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,934,499 shares of the company’s stock worth $86,549,000 after buying an additional 801,718 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DT shares. BNP Paribas assumed coverage on shares of Dynatrace in a report on Tuesday, October 8th. They issued a “neutral” rating and a $52.00 target price for the company. BTIG Research increased their price objective on shares of Dynatrace from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their target price on shares of Dynatrace from $53.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Loop Capital increased their price target on Dynatrace from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, UBS Group started coverage on Dynatrace in a research note on Wednesday, November 27th. They issued a “neutral” rating and a $58.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Dynatrace has an average rating of “Moderate Buy” and an average price target of $61.36.

Insider Buying and Selling

In related news, Director Stephen J. Lifshatz sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the director now directly owns 41,471 shares of the company’s stock, valued at approximately $2,280,905. This trade represents a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Zugelder sold 11,022 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $49.71, for a total value of $547,903.62. Following the transaction, the executive vice president now owns 217,465 shares of the company’s stock, valued at approximately $10,810,185.15. The trade was a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,022 shares of company stock worth $3,397,904 over the last three months. 0.59% of the stock is owned by insiders.

Dynatrace Stock Performance

Shares of Dynatrace stock opened at $56.19 on Monday. The stock has a 50 day moving average price of $53.82 and a 200-day moving average price of $49.20. Dynatrace, Inc. has a one year low of $39.42 and a one year high of $61.41. The stock has a market cap of $16.77 billion, a price-to-earnings ratio of 102.16, a price-to-earnings-growth ratio of 8.21 and a beta of 1.06.

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.