Insider Buying: SoundThinking (NASDAQ:SSTI) Major Shareholder Purchases 15,773 Shares of Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp acquired 15,773 shares of SoundThinking stock in a transaction dated Tuesday, February 24th. The shares were bought at an average cost of $7.14 per share, for a total transaction of $112,619.22. Following the completion of the purchase, the insider directly owned 2,039,905 shares of the company’s stock, valued at approximately $14,564,921.70. The trade was a 0.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more 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 Monday, February 23rd, Veradace Partners Lp acquired 7,016 shares of SoundThinking stock. The stock was bought at an average price of $7.04 per share, with a total value of $49,392.64.
• On Thursday, February 19th, Veradace Partners Lp purchased 8,748 shares of SoundThinking stock. The shares were purchased at an average price of $7.07 per share, with a total value of $61,848.36.
• On Wednesday, February 18th, Veradace Partners Lp purchased 105,880 shares of SoundThinking stock. The shares were purchased at an average cost of $7.14 per share, with a total value of $755,983.20.

SoundThinking Price Performance

SoundThinking stock traded up $0.18 during trading hours on Tuesday, reaching $7.23. The stock had a trading volume of 231,533 shares, compared to its average volume of 216,111. The stock has a market cap of $91.81 million, a PE ratio of -8.61 and a beta of 1.16. The company has a fifty day simple moving average of $7.72 and a 200-day simple moving average of $9.37. SoundThinking, Inc. has a 52 week low of $5.78 and a 52 week high of $19.43.

Hedge Funds Weigh In On SoundThinking

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSTI. Strs Ohio purchased a new position in SoundThinking in the first quarter worth about $127,000. R Squared Ltd bought a new stake in shares of SoundThinking during the second quarter valued at approximately $156,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in SoundThinking by 6.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,707 shares of the company’s stock worth $1,014,000 after acquiring an additional 4,776 shares during the last quarter. Rhumbline Advisers raised its holdings in SoundThinking by 6.5% in the 2nd quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock worth $208,000 after acquiring an additional 980 shares during the last quarter. Finally, Samjo Management LLC lifted its position in SoundThinking by 28.1% in the 2nd quarter. Samjo Management LLC now owns 82,000 shares of the company’s stock valued at $1,071,000 after acquiring an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Analyst Ratings Changes

SSTI has been the subject of several research analyst reports. Craig Hallum cut SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a report on Thursday, November 13th. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price target (down from $30.00) on shares of SoundThinking in a research note on Thursday, November 13th. Lake Street Capital reduced their price objective on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Citizens Jmp decreased their price objective on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundThinking in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock 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.