Otter Creek Advisors LLC Makes New $1.62 Million Investment in Dynatrace, Inc. (NYSE:DT)

Otter Creek Advisors LLC purchased a new position in Dynatrace, Inc. (NYSE:DT) in the second quarter, HoldingsChannel.com reports. The firm purchased 36,162 shares of the company’s stock, valued at approximately $1,618,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Dynatrace by 6.4% during the first quarter. Vanguard Group Inc. now owns 27,945,251 shares of the company’s stock worth $1,297,777,000 after purchasing an additional 1,680,971 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Dynatrace by 8.7% during the first quarter. Janus Henderson Group PLC now owns 7,279,365 shares of the company’s stock worth $338,053,000 after purchasing an additional 583,220 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Dynatrace during the first quarter worth about $133,701,000. Norges Bank purchased a new stake in shares of Dynatrace during the fourth quarter worth about $148,515,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Dynatrace by 1,146.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock worth $98,792,000 after purchasing an additional 2,030,915 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other Dynatrace news, EVP Dan Zugelder sold 15,404 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $44.22, for a total transaction of $681,164.88. Following the transaction, the executive vice president now directly owns 237,772 shares in the company, valued at approximately $10,514,277.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $46.41, for a total transaction of $2,320,500.00. Following the transaction, the chief executive officer now directly owns 732,491 shares in the company, valued at approximately $33,994,907.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dan Zugelder sold 15,404 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $44.22, for a total value of $681,164.88. Following the transaction, the executive vice president now owns 237,772 shares in the company, valued at $10,514,277.84. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America cut their target price on Dynatrace from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Robert W. Baird dropped their price target on Dynatrace from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, May 16th. Guggenheim dropped their price target on Dynatrace from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Truist Financial reissued a “buy” rating and set a $60.00 price target (down from $70.00) on shares of Dynatrace in a research note on Thursday, May 16th. Finally, BMO Capital Markets increased their price target on Dynatrace from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.70.

Dynatrace Stock Performance

Shares of DT stock opened at $50.18 on Friday. Dynatrace, Inc. has a 52-week low of $39.42 and a 52-week high of $61.41. The firm has a market capitalization of $14.96 billion, a P/E ratio of 96.50, a P/E/G ratio of 7.62 and a beta of 1.05. The stock has a 50 day moving average price of $46.27 and a 200 day moving average price of $46.38.

Dynatrace (NYSE:DT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Dynatrace had a return on equity of 9.77% and a net margin of 10.36%. The firm had revenue of $399.20 million during the quarter, compared to analyst estimates of $392.22 million. During the same period last year, the company earned $0.16 EPS. Dynatrace’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Dynatrace, Inc. will post 0.71 EPS for the current year.

About Dynatrace

Dynatrace, Inc provides a security platform for multicloud environments. It 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.