Insider Buying: SoundThinking (NASDAQ:SSTI) Major Shareholder Acquires $61,848.36 in Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp bought 8,748 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $7.07 per share, with a total value of $61,848.36. Following the completion of the transaction, the insider directly owned 2,017,116 shares in the company, valued at $14,261,010.12. This represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 purchased at an average price of $7.14 per share, for a total transaction of $755,983.20.

SoundThinking Stock Performance

SoundThinking stock traded up $0.18 during mid-day trading on Friday, reaching $7.61. The stock had a trading volume of 159,384 shares, compared to its average volume of 215,726. SoundThinking, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $19.43. The stock’s 50-day simple moving average is $7.74 and its 200-day simple moving average is $9.45. The firm has a market capitalization of $96.65 million, a PE ratio of -9.06 and a beta of 1.16.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Lake Street Capital decreased their price target 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a report on Monday, December 29th. Craig Hallum downgraded shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a research report on Thursday, November 13th. Cantor Fitzgerald cut shares of SoundThinking from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $10.00 in a research report on Wednesday, January 7th. Finally, Roth Mkm reiterated a “buy” rating and set a $20.00 price target (down previously from $30.00) on shares of SoundThinking in a research note on Thursday, November 13th. Three equities research 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSTI. Strs Ohio purchased a new stake in SoundThinking in the 1st quarter valued at about $127,000. R Squared Ltd bought a new position in shares of SoundThinking in the second quarter valued at approximately $156,000. Pullen Investment Management LLC increased its position in shares of SoundThinking by 1.0% during the second quarter. Pullen Investment Management LLC now owns 160,653 shares of the company’s stock valued at $2,097,000 after acquiring an additional 1,515 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SoundThinking by 6.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,707 shares of the company’s stock valued at $1,014,000 after acquiring an additional 4,776 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in SoundThinking by 6.5% during the second quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock worth $208,000 after acquiring an additional 980 shares during the period. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

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.