Dynatrace’s Lock-Up Period Will Expire on January 28th (NYSE:DT)
Dynatrace’s (NYSE:DT) lock-up period is set to expire on Tuesday, January 28th. Dynatrace had issued 35,609,612 shares in its initial public offering on August 1st. The total size of the offering was $569,753,792 based on an initial share price of $16.00. After the expiration of Dynatrace’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
Several research firms have recently commented on DT. Zacks Investment Research downgraded shares of Dynatrace from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. Barclays reaffirmed a “buy” rating and issued a $27.00 price target on shares of Dynatrace in a research report on Friday, November 1st. Jefferies Financial Group lifted their price target on Dynatrace from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Royal Bank of Canada boosted their price objective on Dynatrace from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Citigroup raised Dynatrace from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $26.00 to $28.00 in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $26.82.
Shares of DT stock opened at $27.94 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50-day moving average price of $26.29. Dynatrace has a one year low of $17.05 and a one year high of $30.15.
In other news, major shareholder Thoma Bravo, Llc sold 23,358,898 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $24.01, for a total value of $560,847,140.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Several institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY bought a new stake in shares of Dynatrace during the 3rd quarter worth $44,000. Public Employees Retirement System of Ohio purchased a new stake in Dynatrace during the third quarter worth about $226,000. California Public Employees Retirement System bought a new stake in Dynatrace in the third quarter worth about $260,000. Rhumbline Advisers bought a new stake in Dynatrace in the third quarter worth about $395,000. Finally, Dean Capital Investments Management LLC purchased a new position in Dynatrace in the third quarter valued at about $470,000. 87.12% of the stock is owned by hedge funds and other institutional investors.
Dynatrace, Inc provides a software intelligence platform for the enterprise cloud applications. It offers Dynatrace, a platform for running an enterprise cloud. The company's products include AppMon, Classic Real User Monitoring, Network Application Monitoring, and Synthetic Classic. Its platform allows its customers to modernize and automate IT operations, develop and release software, and enhance user experiences.
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