CEO and 10% Owner Mark Meller Sells 15,521 Shares of SilverSun Technologies Inc (SSNT)
Mark Meller, CEO and 10% Owner of SilverSun Technologies Inc (NASDAQ:SSNT), has sold 15,521 shares of the company on March 20, 2024, according to a recent SEC filing. The transaction was executed at an average price of $13.36 per share, resulting in a total value of $207,360.56.
SilverSun Technologies Inc is a business application, technology, and consulting company. It provides strategies and solutions to meet the information, technology, and business management needs of its customers. SilverSun Technologies Inc operates through its wholly-owned subsidiary, SWK Technologies, Inc., a premier provider of integrated business technology solutions and a top-rated Sage Software ERP (enterprise resource planning) solution provider.
Over the past year, the insider has sold a total of 24,009 shares of SilverSun Technologies Inc and has not made any purchases of the stock. The recent sale by Mark Meller is part of a trend observed over the last year, where there have been no insider buys and 11 insider sells for the company.
On the day of the insider's recent sale, shares of SilverSun Technologies Inc were trading at $13.36, giving the company a market cap of $70.91 million.
The stock's price-to-GF-Value ratio stands at 3.14, indicating that SilverSun Technologies Inc is significantly overvalued according to the GF Value. The GF Value is an intrinsic value estimate that takes into account historical trading multiples, a GuruFocus adjustment factor based on the company's past performance, and future business performance estimates from Morningstar analysts.
The insider transaction history and the current valuation metrics suggest that insiders may perceive the stock to be overvalued at current prices. Investors often look at insider selling to gain insights into what corporate executives and 10% owners think about the company's valuation and future prospects.
It is important for investors to consider insider transactions as one of many factors when evaluating a stock. While insider selling can provide valuable information, it should not be the sole basis for an investment decision.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
