5,685 Iron Mountain Incorporated $IRM Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,026 shares of the financial services provider’s stock after purchasing an additional 5,685 shares during the quarter. ProShare Advisors LLC’s holdings in Iron Mountain were worth $6,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IRM. RB Capital Management LLC bought a new stake in shares of Iron Mountain in the 2nd quarter worth about $5,907,000. Canada Pension Plan Investment Board bought a new stake in shares of Iron Mountain during the second quarter worth approximately $3,709,000. Glenview Trust Co acquired a new stake in Iron Mountain during the 2nd quarter worth $1,391,000. Sanctuary Advisors LLC bought a new stake in shares of Iron Mountain in the 2nd quarter valued at about $17,300,000. Finally, Deutsche Bank AG bought a new position in shares of Iron Mountain during the second quarter worth $385,129,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IRM shares. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Barclays increased their price objective on Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, September 8th. Wall Street Zen cut Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. BNP Paribas Exane increased their price target on Iron Mountain from $138.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Truist Financial lifted their target price on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.

Insider Activity

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $122.70, for a total transaction of $736,200.00. Following the sale, the executive vice president owned 101,507 shares in the company, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Greg W. Mcintosh sold 5,000 shares of Iron Mountain stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $116.96, for a total transaction of $584,800.00. Following the completion of the transaction, the executive vice president directly owned 65,634 shares in the company, valued at $7,676,552.64. This trade represents a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 142,422 shares of company stock worth $16,465,899. 1.70% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $118.99 on Thursday. The stock has a market capitalization of $35.42 billion, a P/E ratio of 85.00 and a beta of 1.18. The stock’s fifty day moving average is $114.40 and its 200 day moving average is $115.26. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. Iron Mountain’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share. Equities research analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current year.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.