Do You Think Macroeconomic Uncertainty Affected Dynatrace (DT)’s Stock?

Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned 1.44% net of fees in the third quarter compared to -0.12% return for the Russell 2500 Growth Index. Stock selection is a significant factor in the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Polen Capital discussed stocks like Dynatrace, Inc. (NYSE:DT) in the Q3 2022 investor letter. Headquartered in Waltham, Massachusetts, Dynatrace, Inc. (NYSE:DT) is a software company. On October 26, 2022, Dynatrace, Inc. (NYSE:DT) stock closed at $34.14 per share. One-month return of Dynatrace, Inc. (NYSE:DT) was -1.33% and its shares lost 53.94% of their value over the last 52 weeks. Dynatrace, Inc. (NYSE:DT) has a market capitalization of $9.81 billion.

Polen Capital made the following comment about Dynatrace, Inc. (NYSE:DT) in its Q3 2022 investor letter:

“The most significant absolute detractors from the Portfolio’s performance over the quarter included Yeti, Goosehead Insurance, and Dynatrace, Inc. (NYSE:DT).

Finally, Dynatrace, a software provider of intelligence platform solutions that allow customers to modernize and automate IT operations, traded down in the quarter as the company provided cautious guidance given the uncertainty around the macro picture. We think this is reasonable considering the wider range of outcomes in this market environment, and the underlying results spoke to a company that continues to execute at a high level.”

Dynatrace, Inc. (NYSE:DT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Dynatrace, Inc. (NYSE:DT) at the end of the second quarter which was 43 in the previous quarter.

We discussed Dynatrace, Inc. (NYSE:DT) in another article and shared the top ten technology stocks to buy according to billionaire Louis Bacon. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.