Jennison Associates LLC Acquires 702,603 Shares of Dynatrace, Inc. (NYSE:DT)

Jennison Associates LLC lifted its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 3,184.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 724,667 shares of the company’s stock after purchasing an additional 702,603 shares during the period. Jennison Associates LLC owned 0.25% of Dynatrace worth $39,632,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in shares of Dynatrace during the 4th quarter valued at $25,000. Planned Solutions Inc. purchased a new stake in Dynatrace in the 4th quarter valued at $38,000. Lindbrook Capital LLC lifted its stake in Dynatrace by 35.9% during the 4th quarter. Lindbrook Capital LLC now owns 708 shares of the company’s stock valued at $39,000 after acquiring an additional 187 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new position in Dynatrace during the 3rd quarter worth $35,000. Finally, Ronald Blue Trust Inc. grew its stake in shares of Dynatrace by 286.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,376 shares of the company’s stock worth $71,000 after acquiring an additional 1,020 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DT shares. Wolfe Research assumed coverage on shares of Dynatrace in a research note on Monday, March 18th. They issued an “outperform” rating and a $60.00 price objective for the company. Rosenblatt Securities boosted their price objective on Dynatrace from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Morgan Stanley started coverage on shares of Dynatrace in a report on Tuesday, February 13th. They issued an “equal weight” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Dynatrace from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 1st. Finally, Truist Financial lifted their price objective on Dynatrace from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Dynatrace Stock Performance

NYSE DT opened at $46.23 on Wednesday. The company has a market capitalization of $13.61 billion, a P/E ratio of 70.05, a P/E/G ratio of 3.91 and a beta of 1.07. Dynatrace, Inc. has a 52-week low of $40.43 and a 52-week high of $61.41. The company has a fifty day moving average of $47.30 and a 200-day moving average of $50.87.

Dynatrace (NYSE:DT) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. The firm had revenue of $365.10 million during the quarter, compared to analyst estimates of $357.64 million. Dynatrace had a return on equity of 11.92% and a net margin of 14.44%. As a group, analysts forecast that Dynatrace, Inc. will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling at Dynatrace

In other news, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.60, for a total value of $749,178,065.40. Following the completion of the sale, the insider now owns 16,114,344 shares of the company’s stock, valued at approximately $847,614,494.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of Dynatrace stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.60, for a total value of $749,178,065.40. Following the transaction, the insider now owns 16,114,344 shares in the company, valued at $847,614,494.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Dan Zugelder sold 6,595 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $52.61, for a total value of $346,962.95. Following the sale, the senior vice president now owns 89,425 shares of the company’s stock, valued at $4,704,649.25. The disclosure for this sale can be found here. Insiders have sold 14,278,591 shares of company stock worth $750,893,396 over the last ninety days. Insiders own 0.54% 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.