SoundThinking (NASDAQ:SSTI) Major Shareholder Acquires $49,392.64 in Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp bought 7,016 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $7.04 per share, for a total transaction of $49,392.64. Following the transaction, the insider directly owned 2,024,132 shares in the company, valued at approximately $14,249,889.28. This represents a 0.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Veradace Partners Lp also recently made the following trade(s):

• On Tuesday, February 24th, Veradace Partners Lp purchased 15,773 shares of SoundThinking stock. The stock was bought at an average cost of $7.14 per share, with a total value of $112,619.22.
• On Thursday, February 19th, Veradace Partners Lp acquired 8,748 shares of SoundThinking stock. The shares were bought at an average price of $7.07 per share, with a total value of $61,848.36.
• On Wednesday, February 18th, Veradace Partners Lp acquired 105,880 shares of SoundThinking stock. The shares were bought at an average cost of $7.14 per share, for a total transaction of $755,983.20.

SoundThinking Stock Performance

Shares of SSTI stock traded up $0.18 on Tuesday, reaching $7.23. 231,533 shares of the company were exchanged, compared to its average volume of 216,111. SoundThinking, Inc. has a 1 year low of $5.78 and a 1 year high of $19.43. The business has a 50-day moving average price of $7.72 and a 200 day moving average price of $9.37. The company has a market cap of $91.81 million, a price-to-earnings ratio of -8.61 and a beta of 1.16.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Kopion Asset Management LLC increased its position in shares of SoundThinking by 52.1% during the fourth quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after acquiring an additional 333,170 shares during the last quarter. Yost Capital Management LP purchased a new position in shares of SoundThinking during the 2nd quarter worth approximately $2,350,000. Wasatch Advisors LP boosted its position in shares of SoundThinking by 42.9% during the 2nd quarter. Wasatch Advisors LP now owns 534,237 shares of the company’s stock worth $6,974,000 after purchasing an additional 160,451 shares during the period. Mackenzie Financial Corp raised its position in SoundThinking by 50.2% in the fourth quarter. Mackenzie Financial Corp now owns 203,411 shares of the company’s stock valued at $1,640,000 after purchasing an additional 67,981 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new stake in SoundThinking in the second quarter valued at approximately $402,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citizens Jmp dropped their price objective on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a research note on Thursday, November 13th. Lake Street Capital lowered their target price on SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Craig Hallum lowered SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price target for the company. in a research report on Thursday, November 13th. Roth Mkm reiterated a “buy” rating and set a $20.00 price objective (down from $30.00) on shares of SoundThinking in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SoundThinking in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SoundThinking presently has a consensus rating of “Hold” and an average target price of $14.00.

About SoundThinking

SoundThinking, Inc, a public safety technology company that provides transformative solutions and strategic advisory services for law enforcement and civic leadership. Its SafetySmart Platform, an integrated suite of data-driven tools that enable law enforcement and community violence prevention and health organizations to be efficient in public safety outcomes. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.