California Public Employees Retirement System Grows Stock Position in Dynatrace, Inc. (NYSE:DT)

California Public Employees Retirement System boosted its position in shares of Dynatrace, Inc. (NYSE:DT) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,337,821 shares of the company’s stock after buying an additional 11,723 shares during the quarter. California Public Employees Retirement System’s holdings in Dynatrace were worth $72,711,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Cerity Partners LLC boosted its stake in shares of Dynatrace by 291.2% during the 3rd quarter. Cerity Partners LLC now owns 19,478 shares of the company’s stock worth $1,041,000 after purchasing an additional 14,499 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Dynatrace by 40.9% during the third quarter. The Manufacturers Life Insurance Company now owns 232,102 shares of the company’s stock valued at $12,410,000 after buying an additional 67,380 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Dynatrace by 12.2% in the third quarter. D.A. Davidson & CO. now owns 8,924 shares of the company’s stock worth $477,000 after buying an additional 973 shares during the period. Captrust Financial Advisors bought a new stake in shares of Dynatrace during the 3rd quarter worth approximately $327,000. Finally, Fred Alger Management LLC boosted its holdings in Dynatrace by 99.9% during the 3rd quarter. Fred Alger Management LLC now owns 1,761 shares of the company’s stock valued at $94,000 after acquiring an additional 880 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Rick M. Mcconnell sold 40,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $61.42, for a total value of $2,456,800.00. Following the completion of the transaction, the chief executive officer now owns 548,684 shares in the company, valued at $33,700,171.28. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James M. Benson sold 34,932 shares of Dynatrace stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $61.05, for a total value of $2,132,598.60. Following the sale, the chief financial officer now directly owns 339,004 shares of the company’s stock, valued at approximately $20,696,194.20. This represents a 9.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,432 shares of company stock valued at $7,159,599. 0.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $57.00 target price on shares of Dynatrace in a research report on Thursday, February 6th. Wells Fargo & Company set a $70.00 price objective on shares of Dynatrace in a research report on Friday, January 31st. Truist Financial raised their target price on shares of Dynatrace from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada boosted their price target on Dynatrace from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Wedbush restated an “outperform” rating and set a $67.00 price objective on shares of Dynatrace in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.35.

Dynatrace Price Performance

Dynatrace stock opened at $47.10 on Tuesday. The business has a fifty day moving average price of $55.43 and a 200-day moving average price of $54.43. Dynatrace, Inc. has a 1-year low of $39.42 and a 1-year high of $63.00. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 7.05 and a beta of 1.12.

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.