Datto (NYSE:MSP) Downgraded by Morgan Stanley

Datto (NYSE:MSPGet Rating) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, The Fly reports.

Other equities analysts have also issued reports about the stock. Mizuho lowered their price target on shares of Datto from $31.00 to $28.00 in a research report on Tuesday, January 18th. StockNews.com assumed coverage on shares of Datto in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Northland Securities set a $42.00 target price on shares of Datto in a report on Tuesday, January 4th. Needham & Company LLC reissued a “hold” rating on shares of Datto in a report on Monday. Finally, William Blair lowered shares of Datto from an “outperform” rating to a “market perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Datto presently has an average rating of “Hold” and a consensus target price of $31.63.

Shares of MSP opened at $34.65 on Tuesday. Datto has a 12 month low of $20.76 and a 12 month high of $34.76. The firm has a fifty day simple moving average of $25.37 and a 200 day simple moving average of $24.78. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 115.50, a PEG ratio of 12.10 and a beta of 0.73.

Datto (NYSE:MSPGet Rating) last announced its earnings results on Wednesday, February 23rd. The investment management company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). Datto had a return on equity of 4.05% and a net margin of 8.31%. The business had revenue of $164.25 million for the quarter, compared to analyst estimates of $162.16 million. On average, equities research analysts predict that Datto will post 0.32 EPS for the current year.

In related news, CAO William Severance sold 1,826 shares of Datto stock in a transaction that occurred on Wednesday, April 6th. The shares were sold at an average price of $29.00, for a total transaction of $52,954.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Robert Raymond Petrocelli sold 44,964 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $23.59, for a total transaction of $1,060,700.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,783 shares of company stock worth $6,652,944. 5.80% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in MSP. Marshall Wace LLP bought a new stake in Datto during the 4th quarter valued at $33,000. Royal Bank of Canada lifted its holdings in shares of Datto by 67.3% in the second quarter. Royal Bank of Canada now owns 1,310 shares of the investment management company’s stock worth $36,000 after buying an additional 527 shares in the last quarter. Signaturefd LLC increased its position in shares of Datto by 124.7% in the fourth quarter. Signaturefd LLC now owns 1,676 shares of the investment management company’s stock worth $44,000 after purchasing an additional 930 shares during the last quarter. JJJ Advisors Inc. increased its position in shares of Datto by 133.2% in the fourth quarter. JJJ Advisors Inc. now owns 2,267 shares of the investment management company’s stock worth $60,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its position in Datto by 15.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,164 shares of the investment management company’s stock valued at $109,000 after acquiring an additional 559 shares during the last quarter. Institutional investors own 88.14% of the company’s stock.

Datto Company Profile (Get Rating)

Datto Holding Corp. provides cloud-based software and technology solutions for delivery through the managed service provider (MSP) channel to small and medium businesses in the United States and internationally. Its Unified Continuity products include Business Continuity and Disaster Recovery that protects servers and workstations, and minimize downtime; Cloud Continuity, an image-based continuity solution for laptops and desktops; SaaS Protection +, an automated and secure backup and restoration product; Workplace, a cloud-hosted file sync and share solution, which enable end-users to synchronize files across platforms, including mobile devices; and File Protection, an MSP-managed secure and scalable backup product that enables MSPs to protect and recover files and folders on workstations and laptops.

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