Otter Creek Advisors LLC Increases Stake in Dynatrace, Inc. (NYSE:DT)

Otter Creek Advisors LLC grew its holdings in Dynatrace, Inc. (NYSE:DT - Free Report) by 172.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,533 shares of the company's stock after buying an additional 62,371 shares during the period. Dynatrace accounts for about 3.4% of Otter Creek Advisors LLC's portfolio, making the stock its 13th biggest holding. Otter Creek Advisors LLC's holdings in Dynatrace were worth $5,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DT. Versant Capital Management Inc boosted its stake in shares of Dynatrace by 3,813.3% in the second quarter. Versant Capital Management Inc now owns 587 shares of the company's stock valued at $26,000 after buying an additional 572 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Dynatrace during the 2nd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Dynatrace during the 2nd quarter worth $32,000. Riverview Trust Co grew its holdings in shares of Dynatrace by 70.6% during the 3rd quarter. Riverview Trust Co now owns 621 shares of the company's stock worth $33,000 after purchasing an additional 257 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Dynatrace by 292.3% in the third quarter. UMB Bank n.a. now owns 718 shares of the company's stock valued at $38,000 after purchasing an additional 535 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DT has been the subject of several research analyst reports. Barclays upgraded shares of Dynatrace from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $52.00 to $64.00 in a research report on Monday, October 7th. Guggenheim upped their price objective on Dynatrace from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. JPMorgan Chase & Co. lifted their target price on Dynatrace from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. BNP Paribas initiated coverage on Dynatrace in a research note on Tuesday, October 8th. They set a "neutral" rating and a $52.00 target price for the company. Finally, Jefferies Financial Group raised their price target on shares of Dynatrace from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

Dynatrace Stock Performance

Shares of DT stock traded up $3.23 during mid-day trading on Friday, hitting $55.70. The company's stock had a trading volume of 2,728,529 shares, compared to its average volume of 3,359,133. The stock has a market cap of $16.63 billion, a price-to-earnings ratio of 95.55, a PEG ratio of 7.54 and a beta of 1.06. The business has a 50-day moving average price of $53.34 and a 200 day moving average price of $48.79. 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 other Dynatrace news, EVP Dan Zugelder sold 11,022 shares of the firm'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 transaction of $547,903.62. Following the completion of the transaction, the executive vice president now owns 217,465 shares in the company, valued at $10,810,185.15. This trade represents a 4.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $2,575,000.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 66,022 shares of company stock valued at $3,397,904 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

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.