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Data Storage Corp NASDAQ:DTST Chairman and CEO Charles M. Piluso, also a director and 10% owner, sold 3,390 shares of common stock on March 28, 2025, at prices ranging from $3.50 to $3.65, for a total value of $12,034. The transaction comes as the stock trades near $4.67, having gained over 31% in the past six months. According to InvestingPro, the company maintains a "GOOD" Financial Health score of 2.67.
On the same day, Piluso also acquired 9,416 shares of common stock, through the conversion of restricted stock units, with a transaction price of $0.
Following these transactions, Piluso directly owns 392,243 shares of Data Storage Corp. He also indirectly owns shares through Piluso Family Associates, Piluso Family Associates LLC, The Lasata 2012 Trust, and The Bella Vita 2012 Trust.
In other recent news, Data Storage Corp reported its second-quarter 2025 earnings, revealing a significant loss and revenue shortfall. The company posted an earnings per share of -$0.10, missing the forecasted -$0.01, and reported revenues of $5.15 million, which fell short of the expected $6.2 million. Additionally, Data Storage Corp completed the sale of its CloudFirst business to Performive, generating approximately $40 million in gross proceeds. After accounting for fees, taxes, and adjustments, the net proceeds from this transaction are estimated to be $24 million.
In related developments, Data Storage Corp announced supplemental disclosures related to its proposed divestiture of its cloud solutions business. This follows requests from shareholders for more information regarding financial analyses supporting the transaction, specifically those prepared by Cassel Salpeter & Co., LLC. The supplemental disclosures were issued in response to shareholder letters alleging that the proxy statement omitted material information about the divestiture proposal. These recent developments provide important context for investors monitoring Data Storage Corp’s strategic and financial trajectory.
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