Dynatrace (NYSE:DT) Hits New 52-Week High – Here’s What Happened

Dynatrace, Inc. (NYSE:DT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $61.85 and last traded at $61.43, with a volume of 3120789 shares trading hands. The stock had previously closed at $61.21.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DT. Loop Capital upped their target price on shares of Dynatrace from $45.00 to $55.00 and gave the company a “hold” rating in a report on Friday, November 8th. BTIG Research upped their price objective on Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Guggenheim reaffirmed a “neutral” rating on shares of Dynatrace in a research report on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $67.00 target price on shares of Dynatrace in a report on Thursday, February 6th. Finally, Scotiabank raised their price target on Dynatrace from $62.00 to $67.00 and gave the company a “sector outperform” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.74.

Dynatrace Stock Up 0.4 %

The firm has a market capitalization of $18.39 billion, a P/E ratio of 38.39, a PEG ratio of 6.93 and a beta of 1.04. The firm has a 50 day moving average of $55.30 and a 200-day moving average of $52.82.

Insider Activity

In other Dynatrace news, EVP Bernd Greifeneder sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total transaction of $2,891,500.00. Following the completion of the transaction, the executive vice president now directly owns 1,007,038 shares in the company, valued at $58,237,007.54. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen J. Lifshatz sold 2,500 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $60.88, for a total value of $152,200.00. Following the completion of the sale, the director now directly owns 36,471 shares in the company, valued at approximately $2,220,354.48. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,527 shares of company stock worth $3,045,284. 0.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dynatrace

A number of institutional investors have recently modified their holdings of DT. Riverview Trust Co grew its position in Dynatrace by 70.6% in the third quarter. Riverview Trust Co now owns 621 shares of the company’s stock valued at $33,000 after acquiring an additional 257 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Dynatrace by 40.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 611 shares of the company’s stock valued at $33,000 after purchasing an additional 176 shares during the last quarter. Paladin Wealth LLC acquired a new position in Dynatrace during the 3rd quarter worth approximately $38,000. UMB Bank n.a. lifted its stake in Dynatrace by 292.3% in the 3rd quarter. UMB Bank n.a. now owns 718 shares of the company’s stock valued at $38,000 after purchasing an additional 535 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Dynatrace in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.