Dynatrace Rallies on Report That Starboard Value Took a Stake

Dynatrace Inc. shares rose more than 6% in late trading on a report that Starboard Value LP took a stake and is pushing the company to better capitalize on the shift to artificial intelligence.

Starboard is now a top-five shareholder in the company and has been privately engaging with Dynatrace management in recent months, the Wall Street Journal reported. Starboard said in a draft of a letter to Dynatrace that its board should be open to all paths to maximize shareholder value, the Journal reported.