Dynatrace (NYSE:DT) Given New $62.00 Price Target at Morgan Stanley

Dynatrace (NYSE:DT) had its price objective raised by stock analysts at Morgan Stanley from $59.00 to $62.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 7.31% from the stock’s current price.

Several other research firms have also recently commented on DT. Wedbush started coverage on shares of Dynatrace in a research note on Thursday, October 17th. They set an “outperform” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price target on Dynatrace from $53.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. UBS Group assumed coverage on Dynatrace in a research report on Wednesday, November 27th. They issued a “neutral” rating and a $58.00 price objective for the company. Finally, Loop Capital raised their target price on shares of Dynatrace from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.76.

Dynatrace Stock Performance

Shares of DT opened at $57.77 on Friday. The stock has a fifty day moving average price of $54.75 and a two-hundred day moving average price of $51.92. The company has a market cap of $17.24 billion, a price-to-earnings ratio of 105.04, a PEG ratio of 8.34 and a beta of 1.02. Dynatrace has a 52-week low of $39.42 and a 52-week high of $61.41.

Insiders Place Their Bets

In related news, EVP Bernd Greifeneder sold 50,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total value of $2,891,500.00. Following the transaction, the executive vice president now owns 1,007,038 shares in the company, valued at approximately $58,237,007.54. This represents a 4.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Dynatrace

A number of large investors have recently made changes to their positions in DT. Versant Capital Management Inc lifted its holdings in shares of Dynatrace by 11.9% during the fourth quarter. Versant Capital Management Inc now owns 1,933 shares of the company’s stock worth $105,000 after buying an additional 206 shares in the last quarter. Virtue Capital Management LLC increased its position in Dynatrace by 4.2% during the third quarter. Virtue Capital Management LLC now owns 5,275 shares of the company’s stock worth $282,000 after acquiring an additional 212 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in Dynatrace by 2.5% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 9,202 shares of the company’s stock valued at $500,000 after purchasing an additional 222 shares during the period. Atria Investments Inc grew its position in shares of Dynatrace by 3.4% during the 3rd quarter. Atria Investments Inc now owns 7,201 shares of the company’s stock worth $385,000 after purchasing an additional 240 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Dynatrace by 2.9% during the third quarter. Avior Wealth Management LLC now owns 8,797 shares of the company’s stock worth $470,000 after purchasing an additional 248 shares during the period. 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.