Royal Bank of Canada Trims Dynatrace (NYSE:DT) Target Price to $60.00

Dynatrace (NYSE:DTFree Report) had its price objective cut by Royal Bank of Canada from $66.00 to $60.00 in a report published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also issued reports on DT. Barclays decreased their target price on Dynatrace from $59.00 to $52.00 and set an equal weight rating for the company in a research report on Wednesday, March 20th. Scotiabank raised their price objective on shares of Dynatrace from $62.00 to $70.00 and gave the stock a sector outperform rating in a report on Monday, February 5th. Citigroup increased their target price on shares of Dynatrace from $58.00 to $68.00 and gave the company a buy rating in a research report on Monday, January 22nd. Wolfe Research assumed coverage on Dynatrace in a report on Monday, March 18th. They set an outperform rating and a $60.00 price objective for the company. Finally, TD Cowen lowered their target price on Dynatrace from $62.00 to $58.00 and set a buy rating on the stock in a research note on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $61.54.

Read Our Latest Stock Analysis on Dynatrace

Dynatrace Stock Down 0.8 %

Dynatrace stock opened at $48.10 on Thursday. Dynatrace has a 52 week low of $43.29 and a 52 week high of $61.41. The company’s 50 day moving average price is $46.29 and its two-hundred day moving average price is $50.87. The stock has a market cap of $14.16 billion, a P/E ratio of 92.50, a P/E/G ratio of 4.15 and a beta of 1.06.

Insider Transactions at Dynatrace

In other Dynatrace news, CEO Rick M. Mcconnell sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 477,105 shares of the company’s stock, valued at approximately $22,085,190.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC lifted its holdings in Dynatrace by 35.9% in the 4th quarter. Lindbrook Capital LLC now owns 708 shares of the company’s stock worth $39,000 after buying an additional 187 shares during the period. 1492 Capital Management LLC increased its position in Dynatrace by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 23,144 shares of the company’s stock valued at $1,266,000 after purchasing an additional 224 shares during the period. Bessemer Group Inc. raised its holdings in Dynatrace by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 6,128 shares of the company’s stock worth $284,000 after purchasing an additional 226 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Dynatrace by 76.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 530 shares of the company’s stock worth $25,000 after purchasing an additional 230 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Dynatrace by 2.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,905 shares of the company’s stock valued at $416,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

About Dynatrace

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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.

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