SoundThinking, Inc. (NASDAQ:SSTI) President and CEO Ralph A. Clark recently sold a portion of his holdings in the company, according to a recent SEC filing. The stock, which InvestingPro data shows is currently trading significantly below its 52-week high of $26.92, appears undervalued based on comprehensive Fair Value analysis. On December 16 and 17, Clark sold a total of 10,000 shares of common stock. The sales were executed at prices ranging from $11.54 to $12.02 per share, generating approximately $117,106 in total proceeds.
Following these transactions, Clark retains ownership of 516,707 shares in SoundThinking. The sales were made to cover tax obligations related to restricted stock units vesting, as stated in the filing.
In other recent news, SoundThinking, Inc. reported a steady increase in revenue growth, with a 19.4% rise in the last twelve months, generating over $104 million. The company's third-quarter results also showed a 10% rise in revenue to $26.3 million and an 18% increase in year-to-date revenues to $78.6 million. The firm's Q3 gross profit hit 58% of revenue, or $15.2 million, with an adjusted EBITDA of $4.5 million.
Furthermore, the company announced the upcoming departure of Pascal Levensohn, the Chair of the Board of Directors, who will not seek re-election at the 2025 Annual Meeting of Stockholders. Analysts from Craig-Hallum adjusted the price target for SoundThinking from $17.50 to $16.00, maintaining a Hold rating on the stock.
In addition to these developments, SoundThinking has expanded its presence significantly, launching 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.
Despite a potential delay in the extension of the New York City contract, 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 that investors may find noteworthy.
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