Insider Selling: Datto Holding Corp. (NYSE:MSP) CFO Sells 24,000 Shares of Stock

Datto Holding Corp. (NYSE:MSPGet Rating) CFO John Abbot sold 24,000 shares of Datto stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $34.59, for a total value of $830,160.00. Following the sale, the chief financial officer now directly owns 951 shares of the company’s stock, valued at $32,895.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

John Abbot also recently made the following trade(s):

  • On Friday, April 1st, John Abbot sold 9,000 shares of Datto stock. The stock was sold at an average price of $26.61, for a total value of $239,490.00.
  • On Thursday, March 17th, John Abbot sold 10,000 shares of Datto stock. The stock was sold at an average price of $26.01, for a total value of $260,100.00.
  • On Thursday, March 3rd, John Abbot sold 4,000 shares of Datto stock. The stock was sold at an average price of $23.67, for a total value of $94,680.00.
  • On Tuesday, February 1st, John Abbot sold 4,000 shares of Datto stock. The shares were sold at an average price of $24.77, for a total value of $99,080.00.

Shares of NYSE:MSP opened at $34.73 on Friday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 115.77, a P/E/G ratio of 14.61 and a beta of 0.73. The business’s 50-day moving average is $25.98 and its 200-day moving average is $24.98. Datto Holding Corp. has a 1 year low of $20.76 and a 1 year high of $34.84.

Datto (NYSE:MSPGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The investment management company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $164.25 million during the quarter, compared to analyst estimates of $162.16 million. Datto had a net margin of 8.31% and a return on equity of 4.05%. Research analysts predict that Datto Holding Corp. will post 0.32 EPS for the current fiscal year.

MSP has been the topic of several recent research reports. Royal Bank of Canada downgraded Datto from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $34.00 to $35.50 in a report on Tuesday. BMO Capital Markets downgraded Datto from an “outperform” rating to a “market perform” rating and set a $35.50 price objective on the stock. in a report on Wednesday. Mizuho cut their price objective on Datto from $31.00 to $28.00 in a report on Tuesday, January 18th. Morgan Stanley downgraded Datto from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $35.50 in a report on Tuesday. Finally, William Blair downgraded Datto from an “outperform” rating to a “market perform” rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.44.

A number of institutional investors and hedge funds have recently modified their holdings of MSP. Marshall Wace LLP bought a new stake in Datto during the 4th quarter worth approximately $33,000. Royal Bank of Canada increased its holdings in Datto by 67.3% during the 2nd quarter. Royal Bank of Canada now owns 1,310 shares of the investment management company’s stock worth $36,000 after purchasing an additional 527 shares in the last quarter. Signaturefd LLC grew its holdings 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 valued at $44,000 after acquiring an additional 930 shares in the last quarter. JJJ Advisors Inc. grew its holdings 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 valued at $60,000 after acquiring an additional 1,295 shares in the last quarter. Finally, First Manhattan Co. grew its holdings in shares of Datto by 18.9% in the third quarter. First Manhattan Co. now owns 4,400 shares of the investment management company’s stock valued at $105,000 after acquiring an additional 700 shares in the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

Insider Buying and Selling by Quarter for Datto (NYSE:MSP)

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