Dynatrace (NYSE:DT) Sets New 1-Year High – Still a Buy?

Dynatrace, Inc. (NYSE:DT) hit a new 52-week high on Wednesday . The company traded as high as $61.85 and last traded at $61.43, with a volume of 3120789 shares traded. The stock had previously closed at $61.21.

Analyst Ratings Changes

Several brokerages have recently issued reports on DT. Loop Capital boosted their price target on shares of Dynatrace from $45.00 to $55.00 and gave the company a “hold” rating in a report on Friday, November 8th. Wedbush restated an “outperform” rating and issued a $67.00 price target on shares of Dynatrace in a report on Friday, January 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $57.00 price objective on shares of Dynatrace in a report on Thursday, February 6th. Truist Financial increased their target price on Dynatrace from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $67.00 price target on shares of Dynatrace in a research note on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Dynatrace has a consensus rating of “Moderate Buy” and a consensus price target of $61.74.

Dynatrace Price Performance

The stock has a market capitalization of $18.69 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 6.93 and a beta of 1.04. The company’s 50-day simple moving average is $55.44 and its 200-day simple moving average is $53.01.

Insider Activity

In related news, EVP Bernd Greifeneder sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $57.83, for a total transaction of $2,891,500.00. Following the transaction, the executive vice president now directly owns 1,007,038 shares of the company’s stock, valued at approximately $58,237,007.54. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Lifshatz sold 2,500 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $60.88, for a total value of $152,200.00. Following the sale, the director now directly owns 36,471 shares of the company’s stock, valued at $2,220,354.48. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,459 shares of company stock valued at $5,177,882. 0.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Dynatrace during the fourth quarter worth approximately $192,284,000. Holocene Advisors LP acquired a new stake in Dynatrace during the 3rd quarter worth approximately $126,592,000. Raymond James Financial Inc. bought a new stake in Dynatrace in the 4th quarter valued at $102,209,000. TimesSquare Capital Management LLC acquired a new position in Dynatrace in the 4th quarter valued at $73,906,000. Finally, State Street Corp increased its position in Dynatrace by 14.6% during the 3rd quarter. State Street Corp now owns 9,468,594 shares of the company’s stock worth $506,286,000 after buying an additional 1,207,621 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.