Dynatrace (NYSE:DT) Hits New 52-Week Low on Insider Selling

Dynatrace, Inc. (NYSE:DT)’s stock price hit a new 52-week low during trading on Tuesday after an insider sold shares in the company. The company traded as low as $43.17 and last traded at $43.26, with a volume of 3096993 shares. The stock had previously closed at $45.41.

Specifically, CEO Rick M. Mcconnell sold 50,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $46.41, for a total value of $2,320,500.00. Following the completion of the sale, the chief executive officer now owns 732,491 shares in the company, valued at $33,994,907.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $46.41, for a total value of $2,320,500.00. Following the completion of the transaction, the chief executive officer now owns 732,491 shares in the company, valued at $33,994,907.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dan Zugelder sold 18,870 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $46.72, for a total transaction of $881,606.40. Following the sale, the executive vice president now owns 253,176 shares in the company, valued at $11,828,382.72. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DT shares. TD Cowen decreased their target price on Dynatrace from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Bank of America decreased their price objective on shares of Dynatrace from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. JPMorgan Chase & Co. dropped their target price on shares of Dynatrace from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, April 1st. Loop Capital cut their target price on shares of Dynatrace from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, May 16th. Finally, Capital One Financial started coverage on shares of Dynatrace in a research report on Wednesday, February 21st. They issued an “overweight” rating and a $64.00 price target on the stock. Five 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.54.

Dynatrace Stock Performance

The stock’s fifty day simple moving average is $46.29 and its two-hundred day simple moving average is $50.12. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 83.19, a price-to-earnings-growth ratio of 6.86 and a beta of 1.05.

Dynatrace (NYSE:DT) last issued its earnings results on Wednesday, May 15th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $380.85 million during the quarter, compared to analyst estimates of $375.20 million. Dynatrace had a net margin of 10.81% and a return on equity of 9.89%. Analysts predict that Dynatrace, Inc. will post 0.71 EPS for the current fiscal year.

Institutional Trading of Dynatrace

A number of institutional investors have recently modified their holdings of DT. Jericho Capital Asset Management L.P. purchased a new stake in shares of Dynatrace in the first quarter worth about $133,701,000. Norges Bank acquired a new stake in Dynatrace in the fourth quarter valued at approximately $148,515,000. American Century Companies Inc. raised its stake in shares of Dynatrace by 11,824.1% during the third quarter. American Century Companies Inc. now owns 2,411,771 shares of the company’s stock valued at $112,702,000 after purchasing an additional 2,391,545 shares during the period. Vanguard Group Inc. lifted its position in shares of Dynatrace by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 26,264,280 shares of the company’s stock worth $1,436,393,000 after purchasing an additional 2,348,246 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in shares of Dynatrace by 670.2% in the first quarter. Congress Asset Management Co. MA now owns 1,815,931 shares of the company’s stock valued at $84,332,000 after purchasing an additional 1,580,162 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Dynatrace Company Profile

Dynatrace, Inc provides a security platform for multicloud environments. It 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.