Pier Capital LLC Sells 3,582 Shares of Dynatrace, Inc. (NYSE:DT)

Pier Capital LLC lowered its stake in shares of Dynatrace, Inc. (NYSE:DT) by 17.6% in the third quarter, Holdings Channel.com reports. The firm owned 16,715 shares of the company’s stock after selling 3,582 shares during the period. Pier Capital LLC’s holdings in Dynatrace were worth $894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Dynatrace by 14.6% in the 3rd quarter. State Street Corp now owns 9,468,594 shares of the company’s stock worth $506,286,000 after purchasing an additional 1,207,621 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Dynatrace by 13.2% in the second quarter. American Century Companies Inc. now owns 6,701,539 shares of the company’s stock valued at $299,827,000 after acquiring an additional 782,588 shares in the last quarter. RGM Capital LLC grew its holdings in shares of Dynatrace by 12.8% in the third quarter. RGM Capital LLC now owns 4,342,803 shares of the company’s stock valued at $232,210,000 after acquiring an additional 494,028 shares in the last quarter. Eminence Capital LP purchased a new stake in shares of Dynatrace during the second quarter valued at approximately $158,369,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Dynatrace by 31.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,703,772 shares of the company’s stock worth $144,571,000 after acquiring an additional 648,808 shares during the period. 94.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on DT. Barclays upped their price objective on Dynatrace from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research increased their target price on shares of Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. BNP Paribas initiated coverage on shares of Dynatrace in a report on Tuesday, October 8th. They issued a “neutral” rating and a $52.00 price target on the stock. Jefferies Financial Group increased their price objective on Dynatrace from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Guggenheim upped their price target on Dynatrace from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.48.

Insider Transactions at Dynatrace

In other news, CEO Rick M. Mcconnell sold 50,000 shares of Dynatrace 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 of the company’s stock, valued at approximately $33,505,230.50. The trade was a 7.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen J. Lifshatz sold 5,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the director now owns 41,471 shares of the company’s stock, valued at $2,280,905. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,000 shares of company stock valued at $5,741,500. 0.59% of the stock is owned by corporate insiders.

Dynatrace Stock Down 0.5 %

Shares of NYSE DT opened at $58.31 on Monday. The stock’s 50-day simple moving average is $54.37 and its two-hundred day simple moving average is $49.55. Dynatrace, Inc. has a twelve month low of $39.42 and a twelve month high of $61.41. The firm has a market capitalization of $17.40 billion, a P/E ratio of 106.02, a P/E/G ratio of 8.71 and a beta of 1.01.

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.