Veradace Partners Lp Purchases 105,880 Shares of SoundThinking (NASDAQ:SSTI) Stock

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp acquired 105,880 shares of SoundThinking stock in a transaction dated Wednesday, February 18th. The shares were acquired at an average price of $7.14 per share, with a total value of $755,983.20. Following the completion of the acquisition, the insider directly owned 2,008,368 shares of the company’s stock, valued at approximately $14,339,747.52. The trade was a 5.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% 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 Thursday, February 19th, Veradace Partners Lp bought 8,748 shares of SoundThinking stock. The stock was acquired at an average price of $7.07 per share, for a total transaction of $61,848.36.

SoundThinking Stock Performance

SSTI stock opened at $7.61 on Friday. The company has a market capitalization of $96.65 million, a P/E 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 business has a 50-day simple moving average of $7.74 and a two-hundred day simple moving average of $9.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SSTI shares. Lake Street Capital lowered their price target on SoundThinking from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Cantor Fitzgerald lowered 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. Citizens Jmp cut their price target on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a report on Thursday, November 13th. Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective (down previously from $30.00) on shares of SoundThinking in a research note on Thursday, November 13th. Finally, Craig Hallum cut shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research report 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 stock. Based on data from MarketBeat, SoundThinking presently has a consensus rating of “Hold” and an average target price of $14.00.

Institutional Trading of SoundThinking

Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in shares of SoundThinking during the 2nd quarter valued at approximately $33,000. Meeder Asset Management Inc. purchased a new position in SoundThinking in the third quarter valued at approximately $31,000. BNP Paribas Financial Markets grew its holdings in SoundThinking by 160.5% during the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after purchasing an additional 1,688 shares during the period. Strs Ohio purchased a new stake in SoundThinking in the first quarter worth $127,000. Finally, Corient Private Wealth LLC bought a new stake in shares of SoundThinking in the second quarter valued at $132,000. Institutional investors own 60.74% of the company’s stock.

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.