MYDA Advisors LLC Acquires 40,000 Shares of Dynatrace, Inc. (NYSE:DT)

MYDA Advisors LLC raised its holdings in Dynatrace, Inc. (NYSE:DT) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Dynatrace comprises 1.1% of MYDA Advisors LLC’s investment portfolio, making the stock its 29th largest position. MYDA Advisors LLC’s holdings in Dynatrace were worth $4,348,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama grew 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 worth $19,350,000 after buying an additional 64,999 shares during the period. Synovus Financial Corp boosted its stake in Dynatrace by 27.8% during the third quarter. Synovus Financial Corp now owns 64,093 shares of the company’s stock worth $3,427,000 after acquiring an additional 13,957 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Dynatrace by 16.9% in the fourth 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 during the period. OFI Invest Asset Management bought a new position in shares of Dynatrace during the fourth quarter valued at approximately $842,000. Finally, Allstate Corp purchased a new position in shares of Dynatrace during the fourth quarter valued at approximately $471,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DT. Stifel Nicolaus raised their price objective on Dynatrace from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company set a $70.00 price target on Dynatrace in a research report on Friday, January 31st. Scotiabank raised their price objective on shares of Dynatrace from $62.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Guggenheim reiterated a “neutral” rating on shares of Dynatrace in a report on Friday, January 31st. Finally, BMO Capital Markets lowered their price objective on Dynatrace from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Insider Buying and Selling

In other news, Director Stephen J. Lifshatz sold 2,500 shares of Dynatrace stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $60.88, for a total transaction of $152,200.00. Following the sale, the director now owns 36,471 shares in the company, valued at $2,220,354.48. This trade represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rick M. Mcconnell sold 40,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $60.45, for a total transaction of $2,418,000.00. Following the transaction, the chief executive officer now owns 506,720 shares of the company’s stock, valued at approximately $30,631,224. This represents a 7.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,432 shares of company stock valued at $7,159,599. 0.59% of the stock is owned by corporate insiders.

Dynatrace Stock Down 0.3 %

Shares of DT opened at $43.08 on Friday. The business has a 50-day simple moving average of $50.91 and a two-hundred day simple moving average of $53.47. Dynatrace, Inc. has a 52 week low of $39.30 and a 52 week high of $63.00. The stock has a market cap of $12.90 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 7.05 and a beta of 1.05.

Dynatrace 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.