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

Concentric Capital Strategies LP acquired a new stake in shares of Dynatrace, Inc. (NYSE:DT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 62,383 shares of the company's stock, valued at approximately $3,336,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Dynatrace by 13.2% during the 2nd 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 during the last quarter. RGM Capital LLC lifted its position in Dynatrace by 12.8% during the third quarter. RGM Capital LLC now owns 4,342,803 shares of the company's stock valued at $232,210,000 after purchasing an additional 494,028 shares during the last quarter. Eminence Capital LP purchased a new position in Dynatrace in the 2nd quarter worth approximately $158,369,000. Westfield Capital Management Co. LP increased its holdings in shares of Dynatrace by 31.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,703,772 shares of the company's stock worth $144,571,000 after buying an additional 648,808 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Dynatrace by 23.9% during the 3rd quarter. Congress Asset Management Co. now owns 2,501,451 shares of the company's stock valued at $133,753,000 after buying an additional 482,017 shares in the last quarter. Institutional investors own 94.28% of the company's stock.

Dynatrace Stock Performance

Shares of DT traded up $0.89 during mid-day trading on Tuesday, reaching $57.25. The company had a trading volume of 934,864 shares, compared to its average volume of 3,362,213. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 102.56, a price-to-earnings-growth ratio of 8.21 and a beta of 1.01. The firm has a 50-day moving average price of $53.82 and a 200 day moving average price of $49.20. Dynatrace, Inc. has a 52 week low of $39.42 and a 52 week high of $61.41.

Insider Buying and Selling at Dynatrace

In related news, Director Stephen J. Lifshatz sold 5,000 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the director now directly owns 41,471 shares in the company, valued at $2,280,905. The trade was a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rick M. Mcconnell sold 50,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $51.50, for a total value of $2,575,000.00. Following the sale, the chief executive officer now owns 650,587 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 66,022 shares of company stock worth $3,397,904. 0.59% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on DT. Guggenheim upped their target price on shares of Dynatrace from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Wells Fargo & Company reduced their price objective on Dynatrace from $60.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Barclays upgraded Dynatrace from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $52.00 to $64.00 in a research report on Monday, October 7th. BMO Capital Markets increased their price target on shares of Dynatrace from $53.00 to $61.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Wedbush assumed coverage on shares of Dynatrace in a report on Thursday, October 17th. They issued an "outperform" rating and a $67.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Dynatrace currently has a consensus rating of "Moderate Buy" and an average target price of $61.36.

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.