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Charles M. Piluso, Chairman and CEO of Data Storage Corp (NASDAQ:DTST), recently sold shares of the company’s common stock totaling $12,034. The transactions occurred on March 28, 2025, with shares being sold at a weighted average price of $3.55 each. This sale was part of a series of transactions to satisfy tax withholding obligations. The company, currently valued at $25.7 million, maintains strong financial health with a current ratio of 4.8x and more cash than debt on its balance sheet, according to InvestingPro analysis.
Following these transactions, Piluso retains direct ownership of 392,243 shares. Additionally, he holds indirect interests through various family trusts and LLCs. These include 16,667 shares held by Piluso Family Associates, 65,083 shares by Piluso Family Associates LLC, and 230,116 shares each by The Lasata 2012 Trust and The Bella Vita 2012 Trust. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analysts setting a $9 price target.
These transactions were executed under a pre-established trading plan, and the prices ranged from $3.50 to $3.65 per share. Get deeper insights into insider trading patterns and access comprehensive analysis with a InvestingPro subscription, which includes exclusive ProTips and detailed financial metrics for over 1,400 US stocks.
In other recent news, Data Storage Corporation reported its Q4 2024 earnings, exceeding earnings per share (EPS) expectations with an actual EPS of $0.04, compared to the forecasted $0.03. However, the company’s revenue came in at $6.41 million, falling short of the anticipated $6.9 million. Despite this revenue miss, the company saw a 2% increase in total revenue for the year, reaching $25.4 million, while net income rose by 71% to $513,000. Data Storage Corporation also expanded its operations into the UK, establishing a regional presence to serve a broader European market. This expansion is supported by partnerships with BrightSolid and Polstead, enabling the successful deployment of three Tier 3 data centers in the UK. Additionally, the company saw strong growth in its cloud infrastructure and disaster recovery services, with a 27% year-over-year revenue increase in these segments. The firm’s strategic focus on subscription-based models and international expansion has been a key driver of its performance. Meanwhile, CEO Chuck Palusto highlighted the company’s achievements and ongoing efforts to improve shareholder value.
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