Veradace Partners Lp Buys 8,748 Shares of SoundThinking (NASDAQ:SSTI) Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp bought 8,748 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were acquired at an average price of $7.07 per share, with a total value of $61,848.36. Following the completion of the purchase, the insider directly owned 2,017,116 shares of the company’s stock, valued at approximately $14,261,010.12. The trade was a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 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 Wednesday, February 18th, Veradace Partners Lp purchased 105,880 shares of SoundThinking stock. The stock was acquired at an average price of $7.14 per share, for a total transaction of $755,983.20.

SoundThinking Stock Performance

Shares of SoundThinking stock traded up $0.18 during trading on Friday, reaching $7.61. 159,384 shares of the company’s stock were exchanged, compared to its average volume of 215,726. SoundThinking, Inc. has a 1-year low of $5.78 and a 1-year high of $19.43. The company has a market cap of $96.65 million, a P/E ratio of -9.06 and a beta of 1.16. The firm’s 50-day moving average price is $7.74 and its 200 day moving average price is $9.45.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SSTI shares. Lake Street Capital decreased their price target on shares of 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 shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research report on Thursday, November 13th. Cantor Fitzgerald downgraded shares of SoundThinking from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $10.00 in a report on Wednesday, January 7th. Roth Mkm reiterated 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. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SoundThinking in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new stake in shares of SoundThinking in the 3rd quarter valued at $31,000. BNP Paribas Financial Markets grew its holdings in SoundThinking by 160.5% in the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock worth $33,000 after purchasing an additional 1,688 shares during the period. State of Wyoming bought a new stake in SoundThinking in the second quarter valued at $33,000. Wells Fargo & Company MN increased its stake in SoundThinking by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock valued at $84,000 after purchasing an additional 4,580 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of SoundThinking during the fourth quarter valued at about $87,000. 60.74% of the stock is owned by institutional investors and hedge funds.

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.