Dynatrace (NYSE:DT) Shares Gap Down – Here’s Why

Dynatrace, Inc. (NYSE:DT) shares gapped down before the market opened on Thursday . The stock had previously closed at $56.49, but opened at $52.01. Dynatrace shares last traded at $54.13, with a volume of 1,038,236 shares.

Wall Street Analysts Forecast Growth

DT has been the topic of several recent research reports. BTIG Research raised their price target on Dynatrace from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Guggenheim raised their target price on Dynatrace from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays raised Dynatrace from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $64.00 in a research note on Monday, October 7th. Wedbush initiated coverage on shares of Dynatrace in a research note on Thursday, October 17th. They set an “outperform” rating and a $67.00 price objective on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 target price on shares of Dynatrace in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.46.

Dynatrace Price Performance

The firm has a 50-day moving average of $52.77 and a 200 day moving average of $48.29. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 108.64, a PEG ratio of 8.02 and a beta of 1.06.

Dynatrace (NYSE:DT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $399.20 million during the quarter, compared to the consensus estimate of $392.22 million. Dynatrace had a return on equity of 9.77% and a net margin of 10.36%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities analysts forecast that Dynatrace, Inc. will post 0.71 earnings per share for the current year.

Insider Activity

In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $51.50, for a total value of $2,575,000.00. Following the sale, the chief executive officer now owns 650,587 shares in the company, valued at $33,505,230.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Stephen J. Lifshatz sold 5,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the director now owns 41,471 shares in the company, valued at approximately $2,280,905. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rick M. Mcconnell sold 50,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the completion of the transaction, the chief executive officer now directly owns 650,587 shares in the company, valued at approximately $33,505,230.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,022 shares of company stock valued at $3,397,904 in the last quarter. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Dynatrace

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Eminence Capital LP acquired a new stake in Dynatrace during the second quarter worth approximately $158,369,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Dynatrace during the 1st quarter worth $133,701,000. Assenagon Asset Management S.A. grew its holdings in shares of Dynatrace by 1,146.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock worth $98,792,000 after purchasing an additional 2,030,915 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Dynatrace by 6.4% in the first quarter. Vanguard Group Inc. now owns 27,945,251 shares of the company’s stock worth $1,297,777,000 after purchasing an additional 1,680,971 shares during the period. Finally, Marshall Wace LLP raised its stake in Dynatrace by 285.7% in the second quarter. Marshall Wace LLP now owns 1,389,727 shares of the company’s stock valued at $62,176,000 after purchasing an additional 1,029,387 shares in the last quarter. 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.