Norges Bank Buys New Position in Dynatrace, Inc. (NYSE:DT)

Norges Bank acquired a new position in shares of Dynatrace, Inc. (NYSE:DT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 3,537,879 shares of the company's stock, valued at approximately $192,284,000. Norges Bank owned 1.18% of Dynatrace at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Elo Mutual Pension Insurance Co boosted its holdings in shares of Dynatrace by 21.5% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 30,564 shares of the company's stock valued at $1,661,000 after acquiring an additional 5,417 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Dynatrace by 11.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 210,623 shares of the company's stock valued at $11,544,000 after purchasing an additional 22,367 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Dynatrace by 69.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 218,870 shares of the company's stock worth $11,896,000 after buying an additional 89,377 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Dynatrace by 12.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,469 shares of the company's stock worth $1,004,000 after buying an additional 2,104 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Dynatrace by 20.3% in the 4th quarter. Zions Bancorporation N.A. now owns 40,887 shares of the company's stock valued at $2,222,000 after buying an additional 6,908 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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Dynatrace Stock Up 1.3 %

Shares of NYSE:DT traded up $0.63 during midday trading on Wednesday, reaching $48.46. The company's stock had a trading volume of 2,259,361 shares, compared to its average volume of 3,216,085. The business has a 50 day moving average price of $55.33 and a 200 day moving average price of $54.41. Dynatrace, Inc. has a 1 year low of $39.42 and a 1 year high of $63.00. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 7.05 and a beta of 1.12.

Insider Buying and Selling at Dynatrace

In other Dynatrace news, CEO Rick M. Mcconnell sold 40,000 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $60.45, for a total transaction of $2,418,000.00. Following the completion of the sale, the chief executive officer now directly owns 506,720 shares in the company, valued at $30,631,224. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen J. Lifshatz sold 2,500 shares of Dynatrace stock in a transaction on Monday, February 10th. The shares were sold at an average price of $60.88, for a total transaction of $152,200.00. Following the transaction, the director now owns 36,471 shares in the company, valued at $2,220,354.48. The trade was a 6.42 % 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 90 days. 0.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DT shares. Guggenheim reaffirmed a "neutral" rating on shares of Dynatrace in a report on Friday, January 31st. Scotiabank raised their price objective on shares of Dynatrace from $62.00 to $67.00 and gave the company a "sector outperform" rating in a research note on Friday, January 31st. Wedbush reissued an "outperform" rating and set a $67.00 price objective on shares of Dynatrace in a report on Friday, January 31st. UBS Group increased their target price on shares of Dynatrace from $58.00 to $62.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Barclays boosted their price target on Dynatrace from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Dynatrace presently has an average rating of "Moderate Buy" and a consensus target price of $63.35.

Dynatrace 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.