Insider Buying: SoundThinking (NASDAQ:SSTI) Major Shareholder Purchases $49,392.64 in Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp acquired 7,016 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average cost of $7.04 per share, for a total transaction of $49,392.64. Following the completion of the transaction, the insider directly owned 2,024,132 shares in the company, valued at $14,249,889.28. This represents a 0.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

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

SoundThinking Price Performance

SSTI stock opened at $7.61 on Friday. The stock has a market capitalization of $96.63 million, a P/E ratio of -9.06 and a beta of 1.16. SoundThinking, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $19.43. The business has a 50-day moving average of $7.69 and a 200-day moving average of $9.31.

Hedge Funds Weigh In On SoundThinking

Institutional investors have recently bought and sold shares of the business. Kopion Asset Management LLC lifted its position in shares of SoundThinking by 52.1% in the fourth quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after buying an additional 333,170 shares during the last quarter. Wasatch Advisors LP raised its stake in SoundThinking by 3.7% in the 3rd quarter. Wasatch Advisors LP now owns 554,085 shares of the company’s stock valued at $6,682,000 after acquiring an additional 19,848 shares during the period. Rice Hall James & Associates LLC lifted its holdings in SoundThinking by 1.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 407,613 shares of the company’s stock valued at $3,273,000 after purchasing an additional 5,172 shares during the last quarter. Yost Capital Management LP lifted its holdings in SoundThinking by 62.3% during the 3rd quarter. Yost Capital Management LP now owns 292,200 shares of the company’s stock valued at $3,524,000 after purchasing an additional 112,200 shares during the last quarter. Finally, Harvey Partners LLC boosted its position in SoundThinking by 3.0% during the second quarter. Harvey Partners LLC now owns 277,107 shares of the company’s stock worth $3,618,000 after purchasing an additional 8,107 shares during the period. Institutional investors and hedge funds own 60.74% of the company’s stock.

Wall Street Analysts Forecast Growth

SSTI has been the subject of several analyst reports. Lake Street Capital decreased their price objective on SoundThinking from $19.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Roth Mkm reissued a “buy” rating and set a $20.00 price target (down from $30.00) on shares of SoundThinking in a research report on Thursday, November 13th. Craig Hallum downgraded SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price target for the company. in a research note on Thursday, November 13th. Cantor Fitzgerald cut SoundThinking from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $10.00 in a research note on Wednesday, January 7th. Finally, Citizens Jmp cut their price objective on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.

SoundThinking Company Profile

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.