Veradace Partners Lp Buys 15,773 Shares of SoundThinking (NASDAQ:SSTI) Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp bought 15,773 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were bought at an average cost of $7.14 per share, for a total transaction of $112,619.22. Following the transaction, the insider directly owned 2,039,905 shares of the company’s stock, valued at $14,564,921.70. This trade represents a 0.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 Monday, February 23rd, Veradace Partners Lp purchased 7,016 shares of SoundThinking stock. The stock was bought at an average cost of $7.04 per share, with a total value of $49,392.64.
• On Thursday, February 19th, Veradace Partners Lp acquired 8,748 shares of SoundThinking stock. The shares were 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 stock was bought at an average price of $7.14 per share, with a total value of $755,983.20.

SoundThinking Stock Up 0.3%

Shares of SSTI opened at $7.25 on Thursday. 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 price-to-earnings ratio of -8.63 and a beta of 1.16. The stock’s 50-day moving average price is $7.70 and its 200 day moving average price is $9.33.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in SoundThinking by 42.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,869 shares of the company’s stock worth $232,000 after acquiring an additional 8,533 shares during the last quarter. Mackenzie Financial Corp boosted its stake in SoundThinking by 50.2% in the fourth quarter. Mackenzie Financial Corp now owns 203,411 shares of the company’s stock worth $1,640,000 after purchasing an additional 67,981 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of SoundThinking during the fourth quarter worth $120,000. Quadrature Capital Ltd acquired a new stake in shares of SoundThinking in the fourth quarter valued at $87,000. Finally, Occudo Quantitative Strategies LP raised its holdings in shares of SoundThinking by 77.7% in the fourth quarter. Occudo Quantitative Strategies LP now owns 19,540 shares of the company’s stock valued at $157,000 after buying an additional 8,541 shares during the last quarter. Institutional investors own 60.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SSTI shares. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price (down from $30.00) on shares of SoundThinking in a research report on Thursday, November 13th. Citizens Jmp reduced their price objective on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a report on Thursday, November 13th. Lake Street Capital lowered their target price on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock 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 for the company. in a research note on Thursday, November 13th. Finally, Cantor Fitzgerald cut SoundThinking from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $10.00 in a report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.