RBC Unloads on Dynatrace as Institutional Investors Boost Stakes

Royal Bank of Canada reduced its holdings in Dynatrace Inc. by 63.8% during Q1, according to a recent SEC filing.

The bank sold 512,814 shares, leaving it with 291,358 shares worth $10,775,000 at the end of the quarter.

This accounts for just 0.10% of Dynatrace's market value.

Several other institutional investors have also adjusted their stakes in DT during Q1.

Empowered Funds LLC grew its stake by 169.5%, while American Capital Management Inc. acquired a new position worth $38,987,000.

The company has seen strong growth, with revenue up 16.3% year-over-year in the latest quarter.

Analysts have raised their price targets following Dynatrace's earnings beat and guidance.