Otter Creek Advisors LLC Increases Stock Holdings in Dynatrace, Inc. (NYSE:DT)

Otter Creek Advisors LLC lifted its stake in shares of Dynatrace, Inc. (NYSE:DT) by 172.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,533 shares of the company’s stock after acquiring an additional 62,371 shares during the period. Dynatrace accounts for approximately 3.4% of Otter Creek Advisors LLC’s portfolio, making the stock its 13th biggest holding. Otter Creek Advisors LLC’s holdings in Dynatrace were worth $5,269,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DT. Eminence Capital LP acquired a new stake in Dynatrace in the 2nd quarter worth about $158,369,000. Jericho Capital Asset Management L.P. acquired a new stake in Dynatrace in the 1st quarter worth about $133,701,000. Assenagon Asset Management S.A. boosted its stake in Dynatrace by 1,146.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock worth $98,792,000 after buying an additional 2,030,915 shares during the last quarter. Marshall Wace LLP boosted its stake in Dynatrace by 285.7% in the 2nd quarter. Marshall Wace LLP now owns 1,389,727 shares of the company’s stock worth $62,176,000 after buying an additional 1,029,387 shares during the last quarter. Finally, Dorsal Capital Management LP boosted its stake in Dynatrace by 118.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,750,000 shares of the company’s stock worth $78,295,000 after buying an additional 950,000 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DT shares. Scotiabank raised their price target on Dynatrace from $55.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 8th. Guggenheim raised their price target on Dynatrace from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Loop Capital raised their price objective on Dynatrace from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, November 8th. BMO Capital Markets raised their price objective on Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, BTIG Research raised 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. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Dynatrace presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Dynatrace Stock Performance

Shares of DT stock opened at $52.55 on Friday. Dynatrace, Inc. has a 1 year low of $39.42 and a 1 year high of $61.41. The stock has a fifty day moving average of $53.34 and a two-hundred day moving average of $48.79. The firm has a market capitalization of $15.69 billion, a PE ratio of 95.55, a price-to-earnings-growth ratio of 7.54 and a beta of 1.06.

Insiders Place Their Bets

In other Dynatrace news, EVP Dan Zugelder sold 11,022 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 217,465 shares in the company, valued at approximately $10,810,185.15. The trade was a 4.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen J. Lifshatz sold 5,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the director now directly owns 41,471 shares in the company, valued at $2,280,905. This represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,022 shares of company stock worth $3,397,904. 0.59% of the stock is owned by company insiders.

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.