Norges Bank Buys Shares of 2,715,582 Dynatrace, Inc. (NYSE:DT)

Norges Bank purchased a new position in shares of Dynatrace, Inc. (NYSE:DT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,715,582 shares of the company’s stock, valued at approximately $148,515,000. Norges Bank owned 0.92% of Dynatrace at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Contravisory Investment Management Inc. acquired a new position in Dynatrace in the 4th quarter worth $25,000. NewSquare Capital LLC acquired a new position in shares of Dynatrace during the fourth quarter worth about $32,000. Planned Solutions Inc. bought a new position in shares of Dynatrace during the fourth quarter worth about $38,000. Lindbrook Capital LLC raised its position in Dynatrace by 35.9% in the 4th quarter. Lindbrook Capital LLC now owns 708 shares of the company’s stock valued at $39,000 after buying an additional 187 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Dynatrace in the 4th quarter valued at approximately $40,000. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $55.00 price target on shares of Dynatrace in a research note on Thursday, May 16th. Truist Financial reiterated a “buy” rating and issued a $60.00 price target (down from $70.00) on shares of Dynatrace in a research note on Thursday, May 16th. Wells Fargo & Company cut their price target on shares of Dynatrace from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Robert W. Baird decreased their price objective on Dynatrace from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, May 16th. Finally, Royal Bank of Canada dropped their target price on Dynatrace from $66.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, May 16th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.54.

Insider Activity at Dynatrace

In related news, CEO Rick M. Mcconnell sold 25,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $46.29, for a total value of $1,157,250.00. Following the transaction, the chief executive officer now directly owns 477,105 shares in the company, valued at $22,085,190.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Dynatrace Stock Down 0.3 %

Shares of NYSE:DT opened at $47.60 on Friday. The stock has a market cap of $14.01 billion, a PE ratio of 91.54, a P/E/G ratio of 6.99 and a beta of 1.06. Dynatrace, Inc. has a 12-month low of $43.29 and a 12-month high of $61.41. The business has a 50 day moving average of $46.40 and a 200-day moving average of $50.85.

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.