Melqart Asset Management UK Ltd Trims Stock Position in Dynatrace, Inc. (NYSE:DT)

Melqart Asset Management UK Ltd lessened its stake in shares of Dynatrace, Inc. (NYSE:DT - Free Report) by 24.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 225,011 shares of the company's stock after selling 73,813 shares during the period. Dynatrace accounts for about 1.1% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 27th biggest holding. Melqart Asset Management UK Ltd owned approximately 0.08% of Dynatrace worth $12,031,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Eminence Capital LP purchased a new stake in shares of Dynatrace in the second quarter worth about $158,369,000. Holocene Advisors LP purchased a new stake in shares of Dynatrace in the third quarter worth about $126,592,000. Assenagon Asset Management S.A. lifted its position in shares of Dynatrace by 1,146.0% in the second 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 in the last quarter. Marshall Wace LLP lifted its position in shares of Dynatrace by 285.7% in the second 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 in the last quarter. Finally, Dorsal Capital Management LP lifted its position in shares of Dynatrace by 118.8% in the second 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 in the last quarter. Institutional investors own 94.28% of the company's stock.

Dynatrace Stock Up 4.1 %

Shares of NYSE:DT traded up $2.32 during trading on Wednesday, reaching $59.60. 4,272,170 shares of the company's stock traded hands, compared to its average volume of 3,374,646. Dynatrace, Inc. has a fifty-two week low of $39.42 and a fifty-two week high of $61.41. The firm has a market cap of $17.79 billion, a PE ratio of 107.22, a P/E/G ratio of 8.24 and a beta of 1.01. The company has a 50-day simple moving average of $54.00 and a 200-day simple moving average of $49.32.

Insider Activity

In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 650,587 shares of the company's stock, valued at $33,505,230.50. This trade represents a 7.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen J. Lifshatz sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $55.00, for a total transaction 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. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,022 shares of company stock worth $3,397,904 in the last ninety days. Company insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DT shares. Loop Capital upped their price objective on Dynatrace from $45.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, November 8th. UBS Group initiated coverage on Dynatrace in a research note on Wednesday, November 27th. They set a "neutral" rating and a $58.00 target price on the stock. Barclays raised Dynatrace from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $52.00 to $64.00 in a research note on Monday, October 7th. BMO Capital Markets upped their target price on Dynatrace from $53.00 to $61.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Dynatrace in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.36.

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.