US Bancorp DE raised its holdings in shares of Datto Holding Corp. (NYSE:MSP) by 4,878.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,041 shares of the investment management company’s stock after acquiring an additional 2,000 shares during the period. US Bancorp DE’s holdings in Datto were worth $57,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. New York State Common Retirement Fund grew its holdings in shares of Datto by 98.9% in the 1st quarter. New York State Common Retirement Fund now owns 76,626 shares of the investment management company’s stock valued at $1,756,000 after buying an additional 38,095 shares during the period. Rhumbline Advisers grew its holdings in shares of Datto by 24.3% in the 1st quarter. Rhumbline Advisers now owns 20,241 shares of the investment management company’s stock valued at $464,000 after buying an additional 3,956 shares during the period. Morgan Stanley grew its holdings in shares of Datto by 120.6% in the 1st quarter. Morgan Stanley now owns 56,503 shares of the investment management company’s stock valued at $1,294,000 after buying an additional 30,885 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Datto by 741.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 103,000 shares of the investment management company’s stock worth $2,360,000 after purchasing an additional 90,763 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Datto in the 2nd quarter worth $231,000. 86.43% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on the stock. Berenberg Bank initiated coverage on shares of Datto in a research note on Tuesday, July 27th. They issued a “buy” rating and a $34.00 target price for the company. Morgan Stanley increased their price target on shares of Datto from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, August 12th. BMO Capital Markets increased their price target on shares of Datto from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 12th. Finally, Zacks Investment Research raised shares of Datto from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Thursday, August 19th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Datto presently has an average rating of “Buy” and a consensus target price of $33.25.
Datto (NYSE:MSP) last issued its quarterly earnings data on Tuesday, August 10th. The investment management company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Datto had a net margin of 7.87% and a return on equity of 2.62%. As a group, analysts anticipate that Datto Holding Corp. will post 0.31 earnings per share for the current year.
In other Datto news, CEO Timothy Weller sold 46,210 shares of the stock in a transaction on Monday, June 28th. The shares were sold at an average price of $27.86, for a total transaction of $1,287,410.60. Following the completion of the sale, the chief executive officer now owns 46,210 shares of the company’s stock, valued at approximately $1,287,410.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Glenn Fass sold 17,500 shares of the company’s stock in a transaction on Thursday, June 24th. The stock was sold at an average price of $27.59, for a total transaction of $482,825.00. Following the completion of the transaction, the insider now owns 17,500 shares of the company’s stock, valued at $482,825. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,812 shares of company stock worth $7,378,110. Corporate insiders own 5.80% of the company’s stock.
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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