Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Dynatrace Inc shares valued at $1,157,170 were sold by MCCONNELL RICK M on Mar 15 ’24. At $46.29 per share, MCCONNELL RICK M sold 25,000 shares. The insider’s holdings dropped to 477,105 shares worth approximately $22.16 million following the completion of this transaction.
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Also, Zugelder Dan sold 4,302 shares, netting a total of over 199,020 in proceeds. Following the sale of shares at $46.26 each, the insider now holds 83,037 shares.
Before that, MCCONNELL RICK M had sold 12,001 shares from its account. In a trade valued at $562,645, the Chief Executive Officer traded Dynatrace Inc shares for $46.88 each. Upon closing the transaction, the insider’s holdings decreased to 12,001 shares, worth approximately $23.32 million.
As published in their initiating research note from Wolfe Research on March 18, 2024, Dynatrace Inc [DT] has been an Outperform and the price target has been revised to $60. Analysts at CapitalOne started covering the stock with ‘”an Overweight”‘ outlook in a report released in late February. As of February 13, 2024, Morgan Stanley has initiated its “an Equal-weight” rating for DT. Earlier on December 05, 2023, Scotiabank initiated its rating. Their recommendation was “a Sector outperform” for DT stock.
Analyzing DT Stock Performance
During the last five days, there has been a drop of approximately -0.98%. Over the course of the year, Dynatrace Inc shares have dropped approximately -15.09%. Shares of the company reached a 52-week high of $61.41 on 02/05/24 and a 52-week low of $45.17 on 03/19/24. A 50-day SMA is recorded $52.61, while a 200-day SMA reached $50.73. Nevertheless, trading volume fell to 2.95 million shares from 3.84 million shares the previous day.
Support And Resistance Levels for Dynatrace Inc (DT)
According to the 24-hour chart, there is a support level at 46.00, which, if violated, would cause prices to drop to 45.57. In the upper region, resistance lies at 47.14. The next price resistance is at 47.84. RSI (Relative Strength Index) is 35.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.15, which suggests the price will decrease in the coming days. Percent R is at 69.99%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Dynatrace Inc subject to short interest?
Stocks of Dynatrace Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -2.01 million shares to 5.31 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 7.32 million shares. A decline of -37.85% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.23 of the overall float, the days-to-cover ratio (short ratio) decline to 1.23.
