Dynatrace, Inc. (NYSE:DT) Sees Large Drop in Short Interest

Dynatrace, Inc. (NYSE:DT) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 4,510,000 shares, a decline of 22.0% from the January 15th total of 5,780,000 shares. Based on an average trading volume of 3,500,000 shares, the short-interest ratio is currently 1.3 days.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DT shares. JPMorgan Chase & Co. increased their target price on shares of Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays raised their price target on Dynatrace from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Rosenblatt Securities restated a “buy” rating and set a $67.00 price objective on shares of Dynatrace in a report on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $57.00 target price on shares of Dynatrace in a research note on Thursday, February 6th. Finally, UBS Group upped their price target on shares of Dynatrace from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.74.

Dynatrace Stock Performance

Shares of DT traded down $1.03 during midday trading on Monday, hitting $61.35. 2,887,772 shares of the stock were exchanged, compared to its average volume of 3,757,139. Dynatrace has a 52-week low of $39.42 and a 52-week high of $63.00. The stock has a fifty day simple moving average of $55.58 and a 200 day simple moving average of $53.32. The firm has a market cap of $18.36 billion, a P/E ratio of 38.34, a P/E/G ratio of 6.93 and a beta of 1.04.

Insider Activity

In other news, CFO James M. Benson sold 34,932 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $61.05, for a total transaction of $2,132,598.60. Following the completion of the transaction, the chief financial officer now owns 339,004 shares in the company, valued at $20,696,194.20. This trade represents a 9.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bernd Greifeneder sold 50,000 shares of the firm’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 value of $2,891,500.00. Following the transaction, the executive vice president now owns 1,007,038 shares of the company’s stock, valued at $58,237,007.54. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,459 shares of company stock worth $5,177,882 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its stake in Dynatrace by 199.8% in the third quarter. CWM LLC now owns 7,066 shares of the company’s stock valued at $378,000 after buying an additional 4,709 shares in the last quarter. Creative Planning raised its position in shares of Dynatrace by 46.7% during the 3rd quarter. Creative Planning now owns 25,892 shares of the company’s stock worth $1,384,000 after acquiring an additional 8,247 shares in the last quarter. Swedbank AB lifted its stake in Dynatrace by 15.1% during the third quarter. Swedbank AB now owns 92,862 shares of the company’s stock worth $4,965,000 after purchasing an additional 12,200 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new position in Dynatrace in the third quarter valued at approximately $335,000. Finally, Riverview Trust Co raised its holdings in Dynatrace by 70.6% during the third quarter. Riverview Trust Co now owns 621 shares of the company’s stock worth $33,000 after purchasing an additional 257 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.