Insider Selling: Datto Holding Corp. (NYSE:MSP) CTO Sells 5,059 Shares of Stock

Datto Holding Corp. (NYSE:MSP) CTO Robert Raymond Petrocelli sold 5,059 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $27.27, for a total value of $137,958.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Robert Raymond Petrocelli also recently made the following trade(s):

  • On Friday, May 28th, Robert Raymond Petrocelli sold 500 shares of Datto stock. The stock was sold at an average price of $27.00, for a total value of $13,500.00.
  • On Wednesday, May 26th, Robert Raymond Petrocelli sold 7,265 shares of Datto stock. The stock was sold at an average price of $27.01, for a total value of $196,227.65.
  • On Monday, May 24th, Robert Raymond Petrocelli sold 17,176 shares of Datto stock. The stock was sold at an average price of $27.07, for a total value of $464,954.32.

MSP traded down $0.13 on Thursday, hitting $26.75. 591,062 shares of the company traded hands, compared to its average volume of 418,962. The stock’s 50 day moving average is $25.31. The firm has a market cap of $4.31 billion and a PE ratio of 76.43. Datto Holding Corp. has a 12-month low of $22.30 and a 12-month high of $33.46.

Datto (NYSE:MSP) last issued its earnings results on Tuesday, May 11th. The investment management company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $143.00 million. Datto’s revenue for the quarter was up 16.2% on a year-over-year basis. Equities analysts forecast that Datto Holding Corp. will post 0.23 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Datto by 70.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 39,153 shares of the investment management company’s stock worth $897,000 after acquiring an additional 16,181 shares during the period. Tiger Global Management LLC purchased a new position in shares of Datto during the 4th quarter worth $40,500,000. Federated Hermes Inc. purchased a new position in shares of Datto during the 4th quarter worth $16,200,000. Laurion Capital Management LP purchased a new position in shares of Datto during the 4th quarter worth $459,000. Finally, Caas Capital Management LP purchased a new position in shares of Datto during the 4th quarter worth $5,400,000. Institutional investors and hedge funds own 86.49% of the company’s stock.

MSP has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on Datto from $38.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 9th. They noted that the move was a valuation call. Mizuho dropped their price objective on Datto from $35.00 to $31.00 in a research note on Friday, March 12th. Morgan Stanley dropped their price objective on Datto from $35.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, March 18th. Finally, Royal Bank of Canada lowered their target price on Datto from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, March 8th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $33.10.

About Datto

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

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