Norges Bank Makes New Investment in Dynatrace, Inc. (NYSE:DT)

Norges Bank bought a new position in Dynatrace, Inc. (NYSE:DT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,537,879 shares of the company’s stock, valued at approximately $192,284,000. Norges Bank owned approximately 1.18% of Dynatrace as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in DT. Retirement Systems of Alabama raised its holdings in Dynatrace by 21.9% in the third quarter. Retirement Systems of Alabama now owns 361,884 shares of the company’s stock worth $19,350,000 after purchasing an additional 64,999 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Dynatrace by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock worth $273,610,000 after buying an additional 884,673 shares during the period. Synovus Financial Corp increased its stake in shares of Dynatrace by 27.8% in the 3rd 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. lifted its position in Dynatrace by 16.9% during the 4th quarter. QRG Capital Management Inc. now owns 64,099 shares of the company’s stock valued at $3,484,000 after acquiring an additional 9,251 shares during the period. Finally, OFI Invest Asset Management bought a new stake in Dynatrace during the fourth quarter worth about $842,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DT. BMO Capital Markets lowered their target price on shares of Dynatrace from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Barclays lifted their price objective on Dynatrace from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. UBS Group increased their target price on Dynatrace from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Robert W. Baird set a $65.00 price target on Dynatrace in a research report on Friday, January 31st. Finally, Stifel Nicolaus increased their price objective on shares of Dynatrace from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.35.

Dynatrace Price Performance

DT stock opened at $48.39 on Monday. Dynatrace, Inc. has a 1 year low of $39.42 and a 1 year high of $63.00. The company has a market cap of $14.48 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 7.05 and a beta of 1.12. The stock’s fifty day moving average price is $55.52 and its 200-day moving average price is $54.45.

Insider Buying and Selling at Dynatrace

In other news, Director Stephen J. Lifshatz sold 2,500 shares of Dynatrace stock in a transaction 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rick M. Mcconnell sold 40,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $61.42, for a total transaction of $2,456,800.00. Following the sale, the chief executive officer now directly owns 548,684 shares of the company’s stock, valued at approximately $33,700,171.28. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,432 shares of company stock valued at $7,159,599. 0.59% of the stock is owned by company insiders.

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.