Concentric Capital Strategies LP Purchases Shares of 62,383 Dynatrace, Inc. (NYSE:DT)

Concentric Capital Strategies LP acquired a new position in shares of Dynatrace, Inc. (NYSE:DT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 62,383 shares of the company’s stock, valued at approximately $3,336,000.

A number of other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc lifted its position in shares of Dynatrace by 3,813.3% in the 2nd quarter. Versant Capital Management Inc now owns 587 shares of the company’s stock valued at $26,000 after acquiring an additional 572 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Dynatrace in the second quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Dynatrace in the second quarter worth $32,000. Riverview Trust Co grew its holdings in shares of Dynatrace by 70.6% during the third quarter. Riverview Trust Co now owns 621 shares of the company’s stock valued at $33,000 after buying an additional 257 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Dynatrace by 292.3% during the third quarter. UMB Bank n.a. now owns 718 shares of the company’s stock valued at $38,000 after buying an additional 535 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Dynatrace Stock Performance

Shares of NYSE:DT opened at $56.41 on Tuesday. The stock’s 50-day moving average is $53.82 and its 200-day moving average is $49.20. The company has a market cap of $16.84 billion, a P/E ratio of 102.56, a P/E/G ratio of 8.21 and a beta of 1.06. Dynatrace, Inc. has a 52-week low of $39.42 and a 52-week high of $61.41.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DT shares. BNP Paribas initiated coverage on Dynatrace in a research note on Tuesday, October 8th. They set a “neutral” rating and a $52.00 target price on the stock. UBS Group assumed coverage on shares of Dynatrace in a research note on Wednesday, November 27th. They issued a “neutral” rating and a $58.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of Dynatrace from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Wedbush assumed coverage on Dynatrace in a report on Thursday, October 17th. They set an “outperform” rating and a $67.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.36.

Insider Activity at Dynatrace

In other news, EVP Dan Zugelder sold 11,022 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $49.71, for a total transaction of $547,903.62. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rick M. Mcconnell sold 50,000 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 66,022 shares of company stock worth $3,397,904 in the last 90 days. 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.