Dynatrace, Inc. (NYSE:DT) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Dynatrace, Inc. (NYSE:DT) by 84.0% in the fourth quarter, HoldingsChannel reports. The fund owned 165,831 shares of the company’s stock after buying an additional 75,696 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Dynatrace were worth $9,019,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Retirement Systems of Alabama raised its stake in Dynatrace by 21.9% during the third quarter. Retirement Systems of Alabama now owns 361,884 shares of the company’s stock worth $19,350,000 after purchasing an additional 64,999 shares during the period. Geode Capital Management LLC increased its holdings in shares of Dynatrace by 20.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock worth $273,610,000 after buying an additional 884,673 shares during the last quarter. Synovus Financial Corp boosted its holdings in Dynatrace by 27.8% in the third quarter. Synovus Financial Corp now owns 64,093 shares of the company’s stock valued at $3,427,000 after acquiring an additional 13,957 shares during the last quarter. QRG Capital Management Inc. grew its position in Dynatrace by 16.9% during the fourth quarter. QRG Capital Management Inc. now owns 64,099 shares of the company’s stock valued at $3,484,000 after acquiring an additional 9,251 shares during the period. Finally, Swiss National Bank grew its position in Dynatrace by 6.6% during the third quarter. Swiss National Bank now owns 840,801 shares of the company’s stock valued at $44,958,000 after acquiring an additional 52,000 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DT has been the subject of a number of research reports. BMO Capital Markets decreased their target price on Dynatrace from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday. Royal Bank of Canada boosted their price objective on shares of Dynatrace from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Truist Financial raised their target price on shares of Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Morgan Stanley upped their price target on shares of Dynatrace from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, UBS Group raised their price objective on Dynatrace from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.35.

Insiders Place Their Bets

In related news, CFO James M. Benson sold 34,932 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 339,004 shares in the company, valued at $20,696,194.20. This represents a 9.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rick M. Mcconnell sold 40,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $61.42, for a total transaction of $2,456,800.00. Following the completion of the transaction, the chief executive officer now directly owns 548,684 shares in the company, valued at $33,700,171.28. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,432 shares of company stock valued at $7,159,599 in the last quarter. Insiders own 0.59% of the company’s stock.

Dynatrace Stock Performance

NYSE:DT opened at $49.19 on Wednesday. The company has a market capitalization of $14.72 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 7.05 and a beta of 1.12. Dynatrace, Inc. has a one year low of $39.42 and a one year high of $63.00. The stock has a 50-day simple moving average of $55.73 and a 200 day simple moving average of $54.47.

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.