MIG Capital LLC Invests $339,000 in Dynatrace, Inc. (NYSE:DT)

MIG Capital LLC purchased a new stake in Dynatrace, Inc. (NYSE:DT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,234 shares of the company’s stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DT. Retirement Systems of Alabama raised its position in Dynatrace by 21.9% in the third quarter. Retirement Systems of Alabama now owns 361,884 shares of the company’s stock valued at $19,350,000 after purchasing an additional 64,999 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Dynatrace by 20.8% in the third 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 raised its holdings in Dynatrace by 27.8% in 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. QRG Capital Management Inc. boosted its position in Dynatrace by 16.9% during the 4th quarter. QRG Capital Management Inc. now owns 64,099 shares of the company’s stock worth $3,484,000 after buying an additional 9,251 shares during the period. Finally, OFI Invest Asset Management bought a new stake in Dynatrace during the 4th quarter worth approximately $842,000. 94.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DT has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of Dynatrace from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $57.00 target price on shares of Dynatrace in a research report on Thursday, February 6th. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Dynatrace in a research report on Friday, January 31st. Robert W. Baird set a $65.00 price objective on Dynatrace in a research report on Friday, January 31st. Finally, BMO Capital Markets reduced their target price on Dynatrace from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.35.

Dynatrace Stock Performance

DT stock opened at $41.99 on Friday. The stock’s 50 day simple moving average is $54.75 and its 200 day simple moving average is $54.26. The company has a market cap of $12.57 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 7.05 and a beta of 1.05. Dynatrace, Inc. has a fifty-two week low of $39.42 and a fifty-two week high of $63.00.

Insider Transactions at Dynatrace

In other news, CEO Rick M. Mcconnell sold 40,000 shares of Dynatrace stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $60.45, for a total transaction of $2,418,000.00. Following the completion of the transaction, the chief executive officer now directly owns 506,720 shares in the company, valued at $30,631,224. This trade represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James M. Benson sold 34,932 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $61.05, for a total transaction of $2,132,598.60. Following the completion of the sale, the chief financial officer now owns 339,004 shares in the company, valued at $20,696,194.20. This represents a 9.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,432 shares of company stock valued at $7,159,599 over the last ninety days. 0.59% of the stock is owned by company insiders.

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.