Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Dynatrace, Inc. (NYSE:DT)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Dynatrace, Inc. (NYSE:DT - Free Report) by 23.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,816 shares of the company's stock after selling 43,956 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Dynatrace were worth $7,636,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DT. Eminence Capital LP bought a new stake in Dynatrace in the 2nd quarter worth approximately $158,369,000. Assenagon Asset Management S.A. grew its holdings 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 acquiring an additional 2,030,915 shares during the period. Marshall Wace LLP increased its position in shares of Dynatrace by 285.7% during the 2nd quarter. Marshall Wace LLP now owns 1,389,727 shares of the company's stock valued at $62,176,000 after purchasing an additional 1,029,387 shares during the last quarter. Dorsal Capital Management LP boosted its stake in shares of Dynatrace by 118.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,750,000 shares of the company's stock worth $78,295,000 after acquiring an additional 950,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Dynatrace by 70.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,934,499 shares of the company's stock worth $86,549,000 after purchasing an additional 801,718 shares during the period. 94.28% of the stock is owned by institutional investors.

Dynatrace Price Performance

Shares of DT traded up $0.22 during trading hours on Monday, hitting $56.41. The stock had a trading volume of 2,593,842 shares, compared to its average volume of 3,373,166. The stock has a fifty day moving average price of $53.82 and a 200 day moving average price of $49.20. Dynatrace, Inc. has a 12 month low of $39.42 and a 12 month high of $61.41. The firm has a market capitalization of $16.84 billion, a PE ratio of 102.47, a PEG ratio of 8.21 and a beta of 1.06.

Insider Buying and Selling

In related news, CEO Rick M. Mcconnell sold 50,000 shares of the firm's 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dan Zugelder sold 11,022 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $49.71, for a total value of $547,903.62. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,022 shares of company stock valued at $3,397,904 in the last ninety days. 0.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Loop Capital increased their price objective on shares of Dynatrace from $45.00 to $55.00 and gave the company a "hold" rating in a report on Friday, November 8th. Scotiabank increased their price target on shares of Dynatrace from $55.00 to $62.00 and gave the company a "sector outperform" rating in a report on Friday, November 8th. BMO Capital Markets lifted their price objective on shares of Dynatrace from $53.00 to $61.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Wedbush began coverage on Dynatrace in a research note on Thursday, October 17th. They set an "outperform" rating and a $67.00 price target for the company. Finally, Jefferies Financial Group raised their target price on shares of Dynatrace from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, Dynatrace currently has an average rating of "Moderate Buy" and an average price target of $61.36.

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.