SilverSun Technologies, Inc. (NASDAQ:SSNT) reported a notable transaction by its Chief Executive Officer, Mark Meller, who sold a total of 8,488 shares of company stock. The transaction, which took place on March 19, 2024, resulted in an aggregate sale amount of over $115,000.
Investors tracking insider activity may find this sale significant as the shares were sold at an average price of $13.6072, with individual transactions ranging from $13.16 to $14.26 per share. Following the sale, CEO Mark Meller's holdings in SilverSun Technologies decreased to 398,046 shares of common stock.
This recent sale by the CEO might be of interest to current and potential shareholders as they assess the company's stock performance and insider confidence. SilverSun Technologies, known for its computer processing and data preparation services, has been a player in the tech industry, with its shares publicly traded under the ticker symbol SSNT.
The transaction details, including the price range and total shares sold, were disclosed in accordance with regulatory requirements. The CEO has also committed to providing further information about the number of shares sold at each price point upon request.
As the market processes this insider trading information, SilverSun Technologies' stock performance and future transactions by its executives will continue to be watched closely by investors.
InvestingPro Insights
Following the recent insider trading activity at SilverSun Technologies, Inc. (NASDAQ:SSNT), investors may benefit from additional context provided by InvestingPro metrics and tips. The company, which has seen its CEO sell a significant amount of shares, holds a market capitalization of $70.59 million. Despite the insider sale, SilverSun Technologies exhibits some financial strengths, such as holding more cash than debt on its balance sheet, as indicated by one of the InvestingPro Tips. Moreover, the stock has experienced high returns over the last year, which may be of particular interest to investors considering the stock's future trajectory.
From a valuation perspective, the stock's Price / Book ratio stands at 10.36 as of the last twelve months ending Q4 2023, suggesting a higher valuation compared to industry peers. Additionally, the company's revenue has shown healthy growth, with a 21.19% increase over the last twelve months. However, it is important to note that the P/E ratio is negative at -65.81, reflecting the company's lack of profitability over the same period. This aligns with another InvestingPro Tip, which points out that SilverSun Technologies has not been profitable over the last twelve months.
Investors may also find the stock's volatility noteworthy, as it generally trades with high price volatility. This is further substantiated by a significant price uptick over the last six months, with a 309.88% return. For those interested in a deeper analysis, there are additional InvestingPro Tips available that could provide further insights into SilverSun Technologies' performance and valuation metrics.
To explore these insights further and access a comprehensive list of tips, investors can visit InvestingPro. Additionally, for those considering an annual or biannual Pro and Pro+ subscription, use the coupon code PRONEWS24 to receive an additional 10% off, enhancing your investment research with valuable tools and data.
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