Dynatrace down as Thoma Bravo to cut stake

Dynatrace,

15/11/2023 12:54

** Dynatrace Inc's  DT.N  stock down 3.1% at $50.90
premarket after software intelligence firm announces secondary
offering
    ** Private equity firm Thoma Bravo to sell 10 mln shares,
per the SEC prospectus filing
    ** Sale would cut Thoma Bravo's stake by about 3% to 10.8%,
or approx 31.9 mln shares
    ** BofA sole underwriter for offering
    ** On Nov 2, Dynatrace posted qtrly beat citing ongoing
demand for it observation and application security products, and
boosted its FY adj EPS outlook to $1.09-$1.12 from prior
guidance of $1.03-$1.06
    ** DT shares closed at $52.54 on Tues. Stock up 17.5% this
month and up 37% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))