Figma Shares Indicated To Open $105/$110
Ralph A. Clark, President and CEO of SoundThinking, Inc. (NASDAQ:SSTI), recently sold 28,103 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction, which took place on March 3, saw the shares sold at a weighted average price of $15.50, totaling approximately $435,596. The stock has shown strong momentum recently, gaining over 14% in the past week, according to InvestingPro data, which also indicates the company is currently trading below its Fair Value.
In a separate transaction on February 28, Clark acquired 116,195 shares of common stock at no cost, as part of a vesting schedule. Following these transactions, Clark now directly owns 604,799 shares of SoundThinking, representing a significant stake in the $199 million market cap company. The sale of shares was conducted to cover tax obligations and associated brokerage fees related to the vesting of restricted stock units. With revenue growth of 10% and a strong balance sheet showing more cash than debt, InvestingPro analysis reveals 8 additional key insights available for subscribers.
In other recent news, SoundThinking reported fourth-quarter earnings for 2024 that did not meet analyst expectations, with revenue at $23.4 million, falling short of the projected $26.92 million. The company attributed this shortfall to a $3.5 million impact from delays in renewing two significant contracts with the New York Police Department (NYPD). Despite these setbacks, SoundThinking has increased its financial outlook for 2025, anticipating a double-digit percentage increase in revenue. Craig-Hallum has raised its price target for SoundThinking to $27 while maintaining a Buy rating, reflecting confidence in the company’s growth prospects. Meanwhile, Cantor Fitzgerald has maintained an Overweight rating with a $20 price target, despite the recent earnings miss.
SoundThinking’s recent international expansion includes a $1.7 million contract to implement its ShotSpotter technology in Niterói, Brazil, marking a return to the South American market. The deployment is part of a broader public safety strategy in the city and is expected to become operational in the second quarter of 2025. Additionally, the company is eyeing potential opportunities in Chicago, where the city has issued a Request for Proposals for gunshot detection technology, positioning SoundThinking as a potential frontrunner. The company also reported a 10% year-over-year revenue growth for the full year of 2024, indicating underlying business strength despite quarterly challenges.
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