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

SoundThinking, Inc. (NASDAQ:SSTI) major shareholder Veradace Partners Lp purchased 15,773 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $7.14 per share, for a total transaction of $112,619.22. Following the acquisition, the insider directly owned 2,039,905 shares in the company, valued at $14,564,921.70. This trade represents a 0.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 Monday, February 23rd, Veradace Partners Lp bought 7,016 shares of SoundThinking stock. The stock was purchased at an average cost of $7.04 per share, with a total value of $49,392.64.
• On Thursday, February 19th, Veradace Partners Lp bought 8,748 shares of SoundThinking stock. The stock was purchased at an average price of $7.07 per share, for a total transaction of $61,848.36.
• On Wednesday, February 18th, Veradace Partners Lp purchased 105,880 shares of SoundThinking stock. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $755,983.20.

SoundThinking Trading Up 2.6%

Shares of SSTI stock traded up $0.18 on Tuesday, hitting $7.23. 231,533 shares of the stock were exchanged, compared to its average volume of 216,111. The firm’s 50 day moving average is $7.72 and its two-hundred day moving average is $9.37. SoundThinking, Inc. has a one year low of $5.78 and a one year high of $19.43. The firm has a market capitalization of $91.81 million, a PE ratio of -8.61 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SSTI. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a research note on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price target (down from $30.00) on shares of SoundThinking in a report on Thursday, November 13th. Lake Street Capital reduced 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. Craig Hallum cut SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Thursday, November 13th. Finally, Cantor Fitzgerald downgraded SoundThinking from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $10.00 in a research note on Wednesday, January 7th. 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. Based on data from MarketBeat, SoundThinking has an average rating of “Hold” and an average price target of $14.00.

Hedge Funds Weigh In On SoundThinking

Institutional investors have recently added to or reduced their stakes in the business. Kopion Asset Management LLC boosted its position in shares of SoundThinking by 52.1% during the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after acquiring an additional 333,170 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of SoundThinking by 3.7% in the 3rd quarter. Wasatch Advisors LP now owns 554,085 shares of the company’s stock valued at $6,682,000 after purchasing an additional 19,848 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of SoundThinking by 1.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 407,613 shares of the company’s stock valued at $3,273,000 after purchasing an additional 5,172 shares in the last quarter. Yost Capital Management LP grew its holdings in shares of SoundThinking by 62.3% during the 3rd quarter. Yost Capital Management LP now owns 292,200 shares of the company’s stock valued at $3,524,000 after purchasing an additional 112,200 shares during the last quarter. Finally, Harvey Partners LLC raised its position in SoundThinking by 3.0% in the 2nd quarter. Harvey Partners LLC now owns 277,107 shares of the company’s stock worth $3,618,000 after purchasing an additional 8,107 shares during the period. 60.74% of the stock is currently owned by 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.