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Charles M. Piluso, Chairman and CEO of Data Storage Corp (NASDAQ:DTST), recently executed a sale of the company’s common stock. On March 3, Piluso sold 3,529 shares at a price of $3.83 per share, amounting to a total transaction value of $13,516. This sale was conducted to satisfy tax withholding obligations, according to the filing. The transaction comes as Data Storage Corp, currently valued at $25.74 million, trades below its InvestingPro Fair Value, despite maintaining a strong financial health score.
Additionally, on February 28, Piluso acquired 9,804 shares through the conversion of restricted stock units (RSUs) into common stock. These RSUs, granted on March 1, 2023, vest over a three-year period in equal annual installments. The stock has faced headwinds, declining 33.63% over the past year, though the company maintains solid fundamentals with a current ratio of 4.81x and more cash than debt on its balance sheet. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering 1,400+ US stocks.
Following these transactions, Piluso holds 395,633 shares directly, with additional indirect holdings through various trusts and family associations. The company, trading at a P/E ratio of 155.65x, is expected to remain profitable this year according to analyst forecasts.
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