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

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp purchased 8,748 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was acquired at an average cost of $7.07 per share, with a total value of $61,848.36. Following the completion of the acquisition, the insider directly owned 2,017,116 shares in the company, valued at $14,261,010.12. The trade was a 0.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Wednesday, February 18th, Veradace Partners Lp acquired 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

NASDAQ SSTI opened at $7.61 on Monday. 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 12 month low of $5.78 and a 12 month high of $19.43. The company’s 50 day simple moving average is $7.74 and its 200 day simple moving average is $9.40.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SSTI shares. Lake Street Capital decreased their target price on SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Citizens Jmp dropped their price target on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research note 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 downgraded shares of 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 research report on Wednesday, January 7th. Finally, Craig Hallum lowered 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. Three 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Hedge Funds Weigh In On SoundThinking

Several institutional investors and hedge funds have recently bought and sold shares of SSTI. State of Wyoming acquired a new position in shares of SoundThinking in the 2nd quarter valued at about $33,000. Meeder Asset Management Inc. purchased a new position in SoundThinking during the third quarter valued at approximately $31,000. BNP Paribas Financial Markets increased its stake in SoundThinking by 160.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after buying an additional 1,688 shares during the period. Strs Ohio purchased a new stake in SoundThinking in the 1st quarter worth approximately $127,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of SoundThinking during the 2nd quarter valued at $132,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

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.