Dynatrace, Inc. (NYSE:DT) Sees Significant Drop in Short Interest

Dynatrace, Inc. (NYSE:DT - Get Free Report) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 6,950,000 shares, a decline of 5.1% from the October 15th total of 7,320,000 shares. Based on an average daily trading volume, of 2,720,000 shares, the days-to-cover ratio is presently 2.6 days.

Insiders Place Their Bets

In other news, CEO Rick M. Mcconnell sold 50,000 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $51.50, for a total value of $2,575,000.00. Following the transaction, the chief executive officer now directly owns 650,587 shares of the company's stock, valued at $33,505,230.50. The trade was a 7.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dan Zugelder sold 11,022 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $49.71, for a total value of $547,903.62. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 66,022 shares of company stock valued at $3,397,904. 0.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Dynatrace by 6.4% in the first quarter. Vanguard Group Inc. now owns 27,945,251 shares of the company's stock worth $1,297,777,000 after acquiring an additional 1,680,971 shares in the last quarter. State Street Corp grew its position in Dynatrace by 14.6% in the third quarter. State Street Corp now owns 9,468,594 shares of the company's stock worth $506,286,000 after acquiring an additional 1,207,621 shares in the last quarter. Janus Henderson Group PLC grew its position in Dynatrace by 8.7% in the first quarter. Janus Henderson Group PLC now owns 7,279,365 shares of the company's stock worth $338,053,000 after acquiring an additional 583,220 shares in the last quarter. American Century Companies Inc. grew its position in Dynatrace by 13.2% in the second quarter. American Century Companies Inc. now owns 6,701,539 shares of the company's stock worth $299,827,000 after acquiring an additional 782,588 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Dynatrace by 20.8% in the third quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company's stock worth $273,610,000 after acquiring an additional 884,673 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. BTIG Research increased their target price on Dynatrace from $57.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Guggenheim boosted their target price on Dynatrace from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. BNP Paribas initiated coverage on Dynatrace in a research report on Tuesday, October 8th. They set a "neutral" rating and a $52.00 target price for the company. Scotiabank boosted their target price on Dynatrace from $55.00 to $62.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company reduced their target price on Dynatrace from $60.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Dynatrace has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

Dynatrace Stock Down 0.4 %

DT stock traded down $0.22 during trading on Monday, reaching $52.13. The company's stock had a trading volume of 2,385,559 shares, compared to its average volume of 3,343,861. Dynatrace has a 1 year low of $39.42 and a 1 year high of $61.41. The company has a market capitalization of $15.56 billion, a P/E ratio of 93.65, a price-to-earnings-growth ratio of 7.34 and a beta of 1.06. The company's fifty day moving average is $53.25 and its 200-day moving average is $48.66.

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.