Jennison Associates LLC Purchases 702,603 Shares of Dynatrace, Inc. (NYSE:DT)

Jennison Associates LLC grew its holdings in shares of Dynatrace, Inc. (NYSE:DT) by 3,184.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 724,667 shares of the company’s stock after purchasing an additional 702,603 shares during the period. Jennison Associates LLC’s holdings in Dynatrace were worth $39,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Dynatrace by 8.8% during the third quarter. Vanguard Group Inc. now owns 23,916,034 shares of the company’s stock valued at $1,117,596,000 after buying an additional 1,940,604 shares during the last quarter. FMR LLC raised its stake in shares of Dynatrace by 3.1% in the third quarter. FMR LLC now owns 18,213,109 shares of the company’s stock worth $851,099,000 after purchasing an additional 555,739 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Dynatrace by 2.0% during the third quarter. Brown Advisory Inc. now owns 11,772,653 shares of the company’s stock worth $550,136,000 after purchasing an additional 229,631 shares during the period. Ameriprise Financial Inc. boosted its position in Dynatrace by 10.3% in the third quarter. Ameriprise Financial Inc. now owns 4,038,448 shares of the company’s stock valued at $188,717,000 after buying an additional 375,463 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Dynatrace by 0.3% in the third quarter. William Blair Investment Management LLC now owns 3,835,232 shares of the company’s stock valued at $179,220,000 after buying an additional 10,956 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dynatrace

In other news, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of Dynatrace stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.60, for a total transaction of $749,178,065.40. Following the completion of the sale, the insider now directly owns 16,114,344 shares of the company’s stock, valued at approximately $847,614,494.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.60, for a total value of $749,178,065.40. Following the completion of the transaction, the insider now directly owns 16,114,344 shares of the company’s stock, valued at $847,614,494.40. 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 25,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 477,105 shares of the company’s stock, valued at $22,085,190.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,278,591 shares of company stock valued at $750,893,396. 0.54% of the stock is currently owned by company insiders.

Dynatrace Price Performance

Shares of NYSE:DT opened at $46.23 on Wednesday. The firm has a market capitalization of $13.61 billion, a PE ratio of 70.05, a price-to-earnings-growth ratio of 3.91 and a beta of 1.07. The firm’s 50-day moving average is $47.30 and its two-hundred day moving average is $50.87. Dynatrace, Inc. has a 1 year low of $40.43 and a 1 year high of $61.41.

Dynatrace (NYSE:DT) last released its earnings results on Thursday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Dynatrace had a net margin of 14.44% and a return on equity of 11.92%. The company had revenue of $365.10 million for the quarter, compared to analyst estimates of $357.64 million. Analysts expect that Dynatrace, Inc. will post 0.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on DT shares. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Dynatrace in a research note on Friday, February 9th. Truist Financial boosted their price objective on Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Jefferies Financial Group raised Dynatrace from a “hold” rating to a “buy” rating and boosted their price target for the company from $50.00 to $70.00 in a report on Friday, January 5th. Wolfe Research assumed coverage on Dynatrace in a report on Monday, March 18th. They issued an “outperform” rating and a $60.00 price target for the company. Finally, Citigroup raised their price objective on Dynatrace from $58.00 to $68.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.08.

About Dynatrace

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.