Insider Selling: Data Storage (NASDAQ:DTST) CEO Sells 12,555 Shares of Stock

Data Storage Corp. (NASDAQ:DTST) CEO Charles Piluso sold 12,555 shares of Data Storage stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $3.91, for a total value of $49,090.05. Following the transaction, the chief executive officer owned 297,477 shares of the company’s stock, valued at $1,163,135.07. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Price Performance

Shares of NASDAQ DTST traded up $0.07 during midday trading on Tuesday, reaching $3.84. The company’s stock had a trading volume of 69,139 shares, compared to its average volume of 44,198. Data Storage Corp. has a 12-month low of $3.25 and a 12-month high of $5.44. The firm has a 50 day moving average price of $4.00 and a 200-day moving average price of $4.32. The stock has a market capitalization of $8.33 million, a P/E ratio of -11.64 and a beta of 1.15.

Data Storage (NASDAQ:DTST) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.09. The business had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.40 million. Data Storage had a negative return on equity of 3.76% and a net margin of 81.52%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Data Storage from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Data Storage currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Zacks Investment Management purchased a new position in Data Storage in the fourth quarter worth about $83,000. XTX Topco Ltd bought a new stake in shares of Data Storage during the fourth quarter valued at approximately $134,000. FNY Investment Advisers LLC bought a new stake in shares of Data Storage during the fourth quarter valued at approximately $137,000. Yakira Capital Management Inc. purchased a new position in Data Storage during the fourth quarter valued at approximately $175,000. Finally, Dimensional Fund Advisors LP increased its holdings in Data Storage by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after buying an additional 4,920 shares during the period. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Data Storage Company Profile

Data Storage Corporation provides data management and cloud solutions in the United States and internationally. It offers a suite of multi-cloud IT solutions, including cyber security solutions, which comprise ezSecurity, a security solution for endpoint security, system assessments, and risk analysis, as well as IBM system protection, including Ransomware defense. The company also provides data protection and recovery solutions, such as ezVault for offsite data protection; ezRecovery for fast data recovery; ezAvailability for real-time data replication with minimal recovery objectives; and ezMirror for data mirroring at the storage level.