Melqart Asset Management UK Ltd Buys 39,742 Shares of Dynatrace, Inc. (NYSE:DT)

Melqart Asset Management UK Ltd grew its stake in Dynatrace, Inc. (NYSE:DT - Free Report) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,753 shares of the company's stock after purchasing an additional 39,742 shares during the quarter. Dynatrace makes up about 1.7% of Melqart Asset Management UK Ltd's holdings, making the stock its 19th largest position. Melqart Asset Management UK Ltd owned approximately 0.09% of Dynatrace worth $14,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in Dynatrace by 21.9% during the 3rd quarter. Retirement Systems of Alabama now owns 361,884 shares of the company's stock worth $19,350,000 after acquiring an additional 64,999 shares during the last quarter. Synovus Financial Corp boosted its holdings in Dynatrace by 27.8% during the third quarter. Synovus Financial Corp now owns 64,093 shares of the company's stock worth $3,427,000 after purchasing an additional 13,957 shares during the last quarter. QRG Capital Management Inc. grew its position in Dynatrace by 16.9% in the 4th quarter. QRG Capital Management Inc. now owns 64,099 shares of the company's stock worth $3,484,000 after purchasing an additional 9,251 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Dynatrace in the 4th quarter valued at about $842,000. Finally, Allstate Corp bought a new position in shares of Dynatrace during the 4th quarter worth approximately $471,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DT. Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Dynatrace in a report on Friday, January 31st. Loop Capital decreased their target price on Dynatrace from $55.00 to $44.00 and set a "hold" rating for the company in a research report on Wednesday. Scotiabank boosted their price target on shares of Dynatrace from $62.00 to $67.00 and gave the stock a "sector outperform" rating in a report on Friday, January 31st. Morgan Stanley decreased their price objective on shares of Dynatrace from $62.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Jefferies Financial Group lowered their price objective on shares of Dynatrace from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.95.

Insider Activity

In other news, CEO Rick M. Mcconnell sold 40,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $60.45, for a total value of $2,418,000.00. Following the transaction, the chief executive officer now owns 506,720 shares of the company's stock, valued at $30,631,224. This represents a 7.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Benson sold 34,932 shares of Dynatrace stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $61.05, for a total value of $2,132,598.60. Following the sale, the chief financial officer now directly owns 339,004 shares of the company's stock, valued at approximately $20,696,194.20. This trade represents a 9.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,432 shares of company stock worth $7,159,599 in the last three months. Corporate insiders own 0.59% of the company's stock.

Dynatrace Trading Up 0.7 %

Shares of NYSE:DT opened at $46.43 on Friday. The company has a 50 day moving average of $49.15 and a 200 day moving average of $53.15. The stock has a market cap of $13.90 billion, a P/E ratio of 29.02, a P/E/G ratio of 7.05 and a beta of 1.05. Dynatrace, Inc. has a 12 month low of $39.30 and a 12 month high of $63.00.

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.

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