Veradace Partners Lp Buys 7,016 Shares of SoundThinking (NASDAQ:SSTI) Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp purchased 7,016 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was purchased at an average price of $7.04 per share, with a total value of $49,392.64. Following the transaction, the insider owned 2,024,132 shares of the company’s stock, valued at approximately $14,249,889.28. This represents a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 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 Tuesday, February 24th, Veradace Partners Lp bought 15,773 shares of SoundThinking stock. The shares were acquired at an average price of $7.14 per share, with a total value of $112,619.22.
• On Thursday, February 19th, Veradace Partners Lp bought 8,748 shares of SoundThinking stock. The shares were acquired 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 stock was acquired at an average cost of $7.14 per share, for a total transaction of $755,983.20.

SoundThinking Price Performance

SSTI stock opened at $7.25 on Thursday. The company’s 50 day simple moving average is $7.70 and its 200-day simple moving average is $9.33. SoundThinking, Inc. has a 12 month low of $5.78 and a 12 month high of $19.43. The firm has a market capitalization of $92.08 million, a PE ratio of -8.63 and a beta of 1.16.

Hedge Funds Weigh In On SoundThinking

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SSTI. Citizens Jmp reduced their price objective on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 13th. Roth Mkm restated a “buy” rating and issued a $20.00 target price (down from $30.00) on shares of SoundThinking in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundThinking in a research note on Monday, December 29th. Cantor Fitzgerald lowered shares of SoundThinking from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $10.00 in a research report on Wednesday, January 7th. Finally, Craig Hallum downgraded shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SoundThinking currently 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.