Principal Financial Group Inc. Sells 112,674 Shares of Dynatrace, Inc. (NYSE:DT)

Principal Financial Group Inc. lessened its stake in shares of Dynatrace, Inc. (NYSE:DT - Free Report) by 13.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 727,622 shares of the company's stock after selling 112,674 shares during the quarter. Principal Financial Group Inc. owned 0.24% of Dynatrace worth $38,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of DT. Retirement Systems of Alabama increased 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 purchasing an additional 64,999 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dynatrace by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company's stock valued at $273,610,000 after buying an additional 884,673 shares during the period. Synovus Financial Corp grew its position in shares of Dynatrace by 27.8% during the 3rd quarter. Synovus Financial Corp now owns 64,093 shares of the company's stock valued at $3,427,000 after buying an additional 13,957 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Dynatrace by 56.0% during the third quarter. Crossmark Global Holdings Inc. now owns 26,303 shares of the company's stock worth $1,406,000 after acquiring an additional 9,444 shares during the period. Finally, Walter Public Investments Inc. lifted its holdings in Dynatrace by 12.5% in the second quarter. Walter Public Investments Inc. now owns 320,099 shares of the company's stock worth $14,321,000 after acquiring an additional 35,626 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Activity

In other news, EVP Bernd Greifeneder sold 50,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total transaction of $2,891,500.00. Following the completion of the transaction, the executive vice president now directly owns 1,007,038 shares of the company's stock, valued at approximately $58,237,007.54. This trade represents a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Lifshatz sold 5,000 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the director now directly owns 41,471 shares in the company, valued at approximately $2,280,905. The trade was a 10.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,027 shares of company stock valued at $3,168,084. Insiders own 0.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DT. Loop Capital raised their price target on Dynatrace from $45.00 to $55.00 and gave the company a "hold" rating in a report on Friday, November 8th. Needham & Company LLC reissued a "hold" rating on shares of Dynatrace in a research note on Friday, November 8th. BTIG Research upped their price target on shares of Dynatrace from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price objective on shares of Dynatrace from $53.00 to $61.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Truist Financial boosted their target price on Dynatrace from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.88.

Dynatrace Trading Up 1.3 %

DT traded up $0.69 during midday trading on Tuesday, reaching $55.07. The company's stock had a trading volume of 811,118 shares, compared to its average volume of 3,364,680. The company has a fifty day simple moving average of $54.74 and a 200 day simple moving average of $50.24. The stock has a market cap of $16.44 billion, a P/E ratio of 100.13, a PEG ratio of 8.20 and a beta of 1.01. Dynatrace, Inc. has a twelve month low of $39.42 and a twelve month high of $61.41.

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.