SoundThinking (NASDAQ:SSTI) Major Shareholder Purchases $112,619.22 in Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp purchased 15,773 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $7.14 per share, with a total value of $112,619.22. Following the purchase, the insider owned 2,039,905 shares of the company’s stock, valued at approximately $14,564,921.70. This trade represents a 0.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 cost of $7.04 per share, for a total transaction of $49,392.64.
• On Thursday, February 19th, Veradace Partners Lp bought 8,748 shares of SoundThinking stock. The stock was bought at an average price of $7.07 per share, for a total transaction of $61,848.36.
• On Wednesday, February 18th, Veradace Partners Lp bought 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 Stock Performance

SoundThinking stock opened at $7.61 on Friday. The firm has a market cap of $96.65 million, a price-to-earnings ratio of -9.06 and a beta of 1.16. SoundThinking, Inc. has a 52-week low of $5.78 and a 52-week high of $19.43. The firm has a 50 day moving average price of $7.69 and a two-hundred day moving average price of $9.31.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Kopion Asset Management LLC boosted its holdings in SoundThinking by 52.1% in the fourth quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock worth $7,806,000 after acquiring an additional 333,170 shares in the last quarter. Yost Capital Management LP bought a new position in shares of SoundThinking in the 2nd quarter worth $2,350,000. Wasatch Advisors LP lifted its holdings in shares of SoundThinking by 42.9% in 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 in the last quarter. Mackenzie Financial Corp grew its position in SoundThinking by 50.2% in the 4th 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 bought a new stake in SoundThinking during the 2nd quarter valued at $402,000. 60.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cantor Fitzgerald cut shares of SoundThinking from an “overweight” rating to a “neutral” rating and cut their price target for the company from $16.00 to $10.00 in a research report on Wednesday, January 7th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Craig Hallum downgraded SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a report on Thursday, November 13th. Citizens Jmp dropped their price target on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 13th. Finally, Lake Street Capital reduced their price objective on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SoundThinking has an average rating of “Hold” and a consensus 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.