Short Interest in Dynatrace, Inc. (NYSE:DT) Expands By 23.1%

Dynatrace, Inc. (NYSE:DT) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 6,550,000 shares, a growth of 23.1% from the February 28th total of 5,320,000 shares. Based on an average daily volume of 3,050,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.2% of the company’s shares are sold short.

Analyst Ratings Changes

DT has been the subject of several analyst reports. Royal Bank of Canada increased their target price on shares of Dynatrace from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Truist Financial lifted 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. Stifel Nicolaus lifted their price target on shares of Dynatrace from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. UBS Group raised their target price on Dynatrace from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Dynatrace in a research note on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.35.

Dynatrace Stock Performance

Shares of DT stock traded down $1.65 on Thursday, reaching $46.72. The stock had a trading volume of 889,314 shares, compared to its average volume of 3,210,411. The stock has a market cap of $13.99 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 7.05 and a beta of 1.12. Dynatrace has a 1 year low of $39.42 and a 1 year high of $63.00. The company has a 50 day simple moving average of $55.21 and a 200 day simple moving average of $54.37.

Insider Activity

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

Institutional Trading of Dynatrace

Several hedge funds have recently bought and sold shares of DT. Dragoneer Investment Group LLC bought a new position in shares of Dynatrace during the 4th quarter valued at approximately $242,380,000. Alyeska Investment Group L.P. purchased a new position in shares of Dynatrace during the fourth quarter valued at about $204,000,000. Norges Bank bought a new stake in shares of Dynatrace in the fourth quarter worth about $192,284,000. Holocene Advisors LP purchased a new position in Dynatrace during the 3rd quarter valued at approximately $126,592,000. Finally, Raymond James Financial Inc. bought a new stake in Dynatrace in the fourth quarter worth $102,209,000. Institutional investors own 94.28% of the company’s stock.

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.