Mark Meller, the Chief Executive Officer of SilverSun Technologies, Inc. (NASDAQ:SSNT), has recently sold shares of the company's common stock, totaling over $2.2 million. The transactions occurred over a series of days, with the stock prices ranging from $18.38 to $19.07 per share.
The sales were disclosed in a regulatory filing with the Securities and Exchange Commission. On May 31, 2024, Meller sold 21,640 shares at an average price of $18.87. The following trading day, June 3, he sold an additional 53,856 shares, this time at a lower average price of $18.38. The selling continued on June 4, with two separate transactions: first, 31,000 shares were sold at an average price of $18.69, followed by a sale of 11,700 shares at an average price of $19.07.
These transactions were executed within a price range specified in the footnotes of the filing, indicating that the shares were sold at various prices within the stated ranges. For the May 31 sale, shares were sold at prices ranging from $18.50 to $19.54. On June 3, the prices ranged from $17.54 to $19.355, and on June 4, the shares were sold at prices between $18.475 to $19.03 for the first transaction, and $18.88 to $19.27 for the second.
After these sales, Meller's ownership in SilverSun Technologies has decreased, yet he still retains a significant number of shares. The transactions have been made public as part of the standard reporting process for company insiders and provide transparency into the trading activities of SilverSun's top executives.
Investors and market watchers often pay close attention to insider sales as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it is important to note that such sales can occur for a variety of reasons and may not necessarily reflect a negative outlook.
SilverSun Technologies, Inc. is a company specializing in computer processing and data preparation services, and is known for its innovative solutions in the technology sector. The company's stock performance and insider transactions are closely monitored by investors seeking to understand the dynamics of the company and its leadership's actions.
InvestingPro Insights
In the wake of recent insider transactions at SilverSun Technologies, Inc. (NASDAQ:SSNT), current and potential investors might seek additional context to better understand the company's financial health and market performance. Here's a snapshot of SilverSun's recent data and performance metrics, courtesy of InvestingPro:
InvestingPro Data:
- SilverSun's market capitalization stands at $102.7 million, reflecting the company's size and market value.
- The company's Price / Book ratio for the last twelve months as of Q1 2024 is 13.51, indicating a valuation that is high relative to the company's book value.
- SilverSun has exhibited a significant revenue growth of 18.55% over the last twelve months as of Q1 2024, showcasing its ability to increase sales.
InvestingPro Tips:
- SilverSun Technologies has demonstrated a strong return over the last month, with a 40.47% price total return, a metric that is particularly relevant given the CEO's recent stock sales.
- The company's stock price movements have been quite volatile, a factor that investors should consider when assessing the timing and potential implications of insider transactions.
For those interested in a more comprehensive analysis, InvestingPro offers additional insights and tips for SilverSun Technologies. Currently, there are 14 more InvestingPro Tips available, which can provide investors with a deeper understanding of the company's financials and market performance. To explore these tips, visit: https://www.investing.com/pro/SSNT.
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