Concentric Capital Strategies LP Takes $3.34 Million Position in Dynatrace, Inc. (NYSE:DT)

Concentric Capital Strategies LP bought a new stake in Dynatrace, Inc. (NYSE:DT) during the third quarter, HoldingsChannel.com reports. The fund bought 62,383 shares of the company’s stock, valued at approximately $3,336,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in Dynatrace by 385.9% during the first quarter. Cetera Investment Advisers now owns 40,685 shares of the company’s stock worth $1,889,000 after acquiring an additional 32,312 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Dynatrace by 88.7% during the 1st quarter. Cetera Advisors LLC now owns 7,336 shares of the company’s stock worth $341,000 after purchasing an additional 3,448 shares in the last quarter. DNB Asset Management AS lifted its holdings in Dynatrace by 3.2% during the 2nd quarter. DNB Asset Management AS now owns 44,075 shares of the company’s stock valued at $1,972,000 after purchasing an additional 1,365 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Dynatrace by 3,813.3% during the 2nd quarter. Versant Capital Management Inc now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 572 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Dynatrace by 122.0% in the second quarter. Harbor Capital Advisors Inc. now owns 41,362 shares of the company’s stock valued at $1,851,000 after buying an additional 22,731 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Dynatrace Trading Up 0.4 %

Shares of Dynatrace stock opened at $56.41 on Tuesday. The stock’s fifty day simple moving average is $53.82 and its 200 day simple moving average is $49.20. The company has a market capitalization of $16.84 billion, a PE ratio of 102.56, a PEG ratio of 8.21 and a beta of 1.06. Dynatrace, Inc. has a 12 month low of $39.42 and a 12 month high of $61.41.

Wall Street Analyst Weigh In

DT has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group assumed coverage on Dynatrace in a report on Wednesday, November 27th. They set a “neutral” rating and a $58.00 price target for the company. Wedbush initiated coverage on Dynatrace in a research report on Thursday, October 17th. They issued an “outperform” rating and a $67.00 price objective for the company. Jefferies Financial Group increased their target price on Dynatrace from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Guggenheim raised their price objective on shares of Dynatrace from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.36.

Insiders Place Their Bets

In other news, EVP Dan Zugelder sold 11,022 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $49.71, for a total transaction of $547,903.62. Following the completion of the sale, the executive vice president now owns 217,465 shares of the company’s stock, valued at $10,810,185.15. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rick M. Mcconnell sold 50,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the completion of the sale, the chief executive officer now directly owns 650,587 shares in the company, valued at $33,505,230.50. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,022 shares of company stock worth $3,397,904 over the last ninety days. 0.59% of the stock is currently owned by corporate 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.