SoundThinking (NASDAQ:SSTI) Major Shareholder Veradace Partners Lp Buys 7,016 Shares

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp acquired 7,016 shares of the stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $7.04 per share, for a total transaction of $49,392.64. Following the completion of the purchase, the insider directly owned 2,024,132 shares in the company, valued at $14,249,889.28. The trade was a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, 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 Tuesday, February 24th, Veradace Partners Lp bought 15,773 shares of SoundThinking stock. The stock was 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 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 acquired 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 Up 2.6%

SSTI opened at $7.23 on Wednesday. SoundThinking, Inc. has a 12-month low of $5.78 and a 12-month high of $19.43. The stock has a market cap of $91.82 million, a price-to-earnings ratio of -8.61 and a beta of 1.16. The business has a 50 day moving average of $7.71 and a 200-day moving average of $9.34.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On SoundThinking

A number of hedge funds have recently bought and sold shares of SSTI. Meeder Asset Management Inc. bought a new stake in SoundThinking in the 3rd quarter valued at about $31,000. BNP Paribas Financial Markets increased its holdings in shares of SoundThinking by 160.5% during 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 acquired a new stake in shares of SoundThinking in the second quarter valued at approximately $33,000. Wells Fargo & Company MN raised its position in shares of 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 buying an additional 4,580 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of SoundThinking in the fourth quarter valued at approximately $87,000. 60.74% of the stock is owned by institutional investors.

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.