Short Interest in Dynatrace, Inc. (NYSE:DT) Grows By 23.1%

Dynatrace, Inc. (NYSE:DT) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 6,550,000 shares, a growth of 23.1% from the February 28th total of 5,320,000 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 3,050,000 shares, the short-interest ratio is presently 2.1 days.

Insider Activity at Dynatrace

In other Dynatrace news, CEO Rick M. Mcconnell sold 40,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $61.42, for a total transaction of $2,456,800.00. Following the completion of the sale, the chief executive officer now owns 548,684 shares in the company, valued at $33,700,171.28. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen J. Lifshatz sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $60.88, for a total value of $152,200.00. Following the sale, the director now directly owns 36,471 shares in the company, valued at approximately $2,220,354.48. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,432 shares of company stock worth $7,159,599. Company insiders own 0.59% of the company’s stock.

Institutional Trading of Dynatrace

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Retirement Systems of Alabama increased its holdings 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Dynatrace by 20.8% in the third quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock worth $273,610,000 after acquiring an additional 884,673 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Dynatrace by 27.8% in the third quarter. Synovus Financial Corp now owns 64,093 shares of the company’s stock valued at $3,427,000 after acquiring an additional 13,957 shares in the last quarter. QRG Capital Management Inc. increased its position in Dynatrace by 16.9% during the 4th quarter. QRG Capital Management Inc. now owns 64,099 shares of the company’s stock worth $3,484,000 after purchasing an additional 9,251 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Dynatrace in the 4th quarter valued at about $842,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Dynatrace Stock Down 3.4 %

Shares of NYSE DT traded down $1.65 during mid-day trading on Thursday, hitting $46.72. 889,314 shares of the company were exchanged, compared to its average volume of 3,210,411. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 7.05 and a beta of 1.12. The stock has a 50 day simple moving average of $55.21 and a 200-day simple moving average of $54.37. Dynatrace has a 1-year low of $39.42 and a 1-year high of $63.00.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DT. BMO Capital Markets lowered their target price on shares of Dynatrace from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Guggenheim reissued a “neutral” rating on shares of Dynatrace in a research report on Friday, January 31st. Barclays boosted their price target on Dynatrace from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Jefferies Financial Group decreased their target price on Dynatrace from $70.00 to $65.00 and set a “buy” rating for the company in a report on Monday. Finally, Wells Fargo & Company set a $70.00 price objective on Dynatrace in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.35.

Dynatrace Company 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.