SoundThinking (SSTI) Benefitted from Multiple Tailwinds
Conestoga Capital Advisors, an asset management company, released its “Micro Cap Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Micro Cap Composite rose 2.93% net of fees in the first quarter, compared to the Russell Microcap Growth Index’s 0.76% return. The Strategy posted 10.45% annualized returns since its inception at the end of 2019. Both positive stock selection and sector allocation equally contributed to the relative outperformance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Micro Cap Strategy highlighted stocks like SoundThinking, Inc. (NASDAQ:SSTI) in the first quarter 2023 investor letter. Headquartered in Fremont, California, SoundThinking, Inc. (NASDAQ:SSTI) is a public safety technology company. On May 24, 2023, SoundThinking, Inc. (NASDAQ:SSTI) stock closed at $26.77 per share. One-month return of SoundThinking, Inc. (NASDAQ:SSTI) was -9.35%, and its shares lost 11.12% of their value over the last 52 weeks. SoundThinking, Inc. (NASDAQ:SSTI) has a market capitalization of $327.807 million.
Conestoga Micro Cap Strategy made the following comment about SoundThinking, Inc. (NASDAQ:SSTI) in its Q1 2023 investor letter:
“SoundThinking, Inc. (NASDAQ:SSTI): SSTI finished up an outstanding year reporting revenue growth of 39% and Adjusted EBTIDA growth of 54%. Results have been driven by increased awareness, new products, and improved sales execution. Also, SSTI continues to benefit from a strong funding environment and the desire of big cities to look for ways to reduce gun violence.”
Photo by Jefferson Santos on Unsplash
SoundThinking, Inc. (NASDAQ:SSTI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held SoundThinking, Inc. (NASDAQ:SSTI) at the end of the first quarter 2023 which was 10 in the previous quarter.
We discussed SoundThinking, Inc. (NASDAQ:SSTI) in another article and shared the list of best prison and law enforcement stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
