Stewart Alan R., the Chief Financial Officer of SoundThinking, Inc. (NASDAQ:SSTI), a $162.9 million market cap company, has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Alan disposed of 15,000 shares of common stock on December 10, 2024. The shares were sold at prices ranging from $13.86 to $14.11 per share, totaling approximately $209,275. The sale occurred as the stock has experienced a significant decline of nearly 50% year-to-date, though InvestingPro analysis suggests the stock may be undervalued at its current price of $12.83.
Following this transaction, Alan retains direct ownership of 138,851 shares. Additionally, he holds an indirect interest through a 401(k) plan, with 4,750 shares attributed to his plan and 3,850 shares held by Jennifer K. Stewart's 401(k) plan. These transactions are part of regular financial management activities and provide insight into the executive's current stock holdings. InvestingPro data reveals the company maintains strong financial health with multiple positive indicators. Subscribers can access 10+ additional ProTips and comprehensive analysis through the Pro Research Report.
In other recent news, software solutions provider SoundThinking has experienced noteworthy developments. The company has seen steady revenue growth, with a 19.4% increase in the last twelve months, generating over $104 million. In the third quarter alone, the company reported a 10% rise in revenue to $26.3 million and an 18% increase in year-to-date revenues to $78.6 million.
In addition, SoundThinking is preparing for the departure of Pascal Levensohn, the Chair of the Board of Directors. His decision to step down is not related to any disagreements with the company's operations, policies, or practices. In anticipation of the vacancy, SoundThinking's Nominating and Corporate Governance Committee has engaged a search firm to identify suitable candidates for the soon-to-be-open board position.
Furthermore, Craig-Hallum has adjusted the price target for SoundThinking from $17.50 to $16.00, maintaining a Hold rating on the stock. This adjustment came in light of 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%.
Finally, SoundThinking has expanded its presence significantly, going live in four new cities, one university, and growing its partnerships with eight existing allies. The company's SafetySmart platform saw robust growth with 15 new implementations during the third quarter, and the firm also marked its territory internationally with a significant expansion into Uruguay. These are some of the recent developments that investors might want to keep an eye on.
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