Nasim Golzadeh, an officer at SoundThinking, Inc. (NASDAQ:SSTI), recently sold 739 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold on December 2 at prices ranging from $12.54 to $12.90, resulting in a total transaction value of approximately $9,375. The transaction occurs as SSTI shares have declined over 51% year-to-date, though InvestingPro analysis suggests the stock is currently undervalued, with management actively pursuing share buybacks.
Following this transaction, Golzadeh holds 66,580 shares of SoundThinking. The sale was part of a prior arrangement to cover tax obligations related to the vesting of restricted stock units, as well as any associated brokerage fees. The company maintains a strong balance sheet with more cash than debt, and InvestingPro data shows an overall "GOOD" financial health score. For deeper insights into insider transactions and comprehensive financial analysis, investors can access the detailed Pro Research Report, available for SSTI among 1,400+ US stocks.
In other recent news, SoundThinking, Inc. announced the planned departure of Pascal Levensohn, the Chair of the Board of Directors, who has served since 2007. His decision is not linked to any disagreements with the company's operations, policies, or practices. In preparation for this vacancy, SoundThinking's Nominating and Corporate Governance Committee has begun the search for suitable candidates. Levensohn's departure will follow the company's 2025 Annual Meeting of Stockholders.
SoundThinking reported a 19.4% increase in revenue over the last year, generating over $104 million. The company also revealed steady growth in the third quarter, with a 10% rise in revenue to $26.3 million, and an 18% increase in year-to-date revenues to $78.6 million. This growth is reflected in their Q3 gross profit, which hit 58% of revenue, or $15.2 million, and an adjusted EBITDA of $4.5 million.
Craig-Hallum adjusted the price target for SoundThinking from $17.50 to $16.00, maintaining a Hold rating on the stock. This adjustment follows the company's mixed third-quarter results and the potential delay in the extension of the New York City contract. Despite these challenges, SoundThinking projects its 2025 revenue to be between $107 million and $109 million, with adjusted EBITDA margins forecasted at 19% to 21%. These are recent developments in the company's journey.
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