Holocene Advisors LP Invests $126.59 Million in Dynatrace, Inc. (NYSE:DT)

Holocene Advisors LP bought a new position in shares of Dynatrace, Inc. (NYSE:DT) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 2,367,525 shares of the company’s stock, valued at approximately $126,592,000. Holocene Advisors LP owned 0.79% of Dynatrace as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Concentric Capital Strategies LP acquired a new position in shares of Dynatrace during the 3rd quarter valued at $3,336,000. Benjamin Edwards Inc. boosted its stake in shares of Dynatrace by 4,660.6% in the third quarter. Benjamin Edwards Inc. now owns 25,755 shares of the company’s stock valued at $1,377,000 after purchasing an additional 25,214 shares during the period. Atom Investors LP acquired a new stake in Dynatrace during the 3rd quarter valued at $981,000. Avala Global LP lifted its holdings in Dynatrace by 29.7% in the 3rd quarter. Avala Global LP now owns 1,313,227 shares of the company’s stock worth $70,218,000 after buying an additional 301,027 shares in the last quarter. Finally, JAT Capital Mgmt LP bought a new stake in shares of Dynatrace in the third quarter worth $9,357,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Dynatrace

In related news, CEO Rick M. Mcconnell sold 50,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $51.50, for a total value of $2,575,000.00. Following the completion of the transaction, the chief executive officer now directly owns 650,587 shares in the company, valued at approximately $33,505,230.50. The trade was a 7.14 % decrease in their ownership of the stock. 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 Dynatrace stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $49.71, for a total transaction of $547,903.62. Following the transaction, the executive vice president now directly owns 217,465 shares in the company, valued at $10,810,185.15. This trade represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,022 shares of company stock valued at $3,397,904 over the last three months. 0.59% of the stock is currently owned by insiders.

Dynatrace Price Performance

Shares of DT opened at $56.87 on Monday. Dynatrace, Inc. has a 1 year low of $39.42 and a 1 year high of $61.41. The stock’s fifty day moving average price is $53.82 and its two-hundred day moving average price is $49.20. The firm has a market cap of $16.97 billion, a PE ratio of 102.16, a PEG ratio of 8.21 and a beta of 1.06.

Analysts Set New Price Targets

DT has been the subject of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $65.00 target price on shares of Dynatrace in a research report on Wednesday, November 6th. Barclays upgraded Dynatrace from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $64.00 in a research note on Monday, October 7th. Scotiabank increased their price objective on shares of Dynatrace from $55.00 to $62.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Dynatrace in a research report on Friday, November 8th. Finally, BTIG Research increased their price objective on Dynatrace from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.36.

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.