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SilverSun Technologies Inc (NASDAQ: SSNT ) CEO and 10% shareholder Mark Meller sold 15,521 shares of the company on March 20, 2024, according to a recent SEC filing. The transaction had an average price of $13.36 per share, for a total value of $207,360.56.
SilverSun Technologies Inc is a business applications, technology and consulting company. It provides strategies and solutions to meet its clients’ information, technology and business management needs. SilverSun Technologies Inc. operates through its wholly owned subsidiary SWK Technologies, Inc., a premier provider of integrated business technology solutions and a premier provider of Sage Software ERP (Enterprise Resource Planning) solutions.
Over the past year, this insider sold a total of 24,009 shares of SilverSun Technologies Inc. stock and purchased no shares. Mark Meller’s recent sale is part of a trend observed last year, where the company had no insider purchases but 11 insider sales.
On the day when insiders most recently sold shares, SilverSun Technologies Inc.’s shares were trading at $13.36, giving the company a market capitalization of $70.91 million.
The stock’s market price to GF value ratio is 3.14, indicating that SilverSun Technologies Inc is significantly overvalued based on the GF value. GF is an intrinsic value estimate that takes into account historical trading multiples, GuruFocus adjustment factors based on the company’s past performance, and Morningstar analyst estimates of future business performance.
The insider trading history and current valuation metrics suggest that insiders may believe the stock is overvalued at its current price. Investors often look to insider trading to get a sense of what a company’s top brass and the 10% of owners think of a company’s valuation and future prospects.
It’s important for investors to consider insider trading as one of many factors when evaluating a stock. While insider trading can provide valuable information, it should not be the sole basis for investment decisions.
This article was generated by GuruFocus and is intended to provide general insight and is not tailored financial advice. Our commentary is rooted in historical data and analyst forecasts, employs an unbiased methodology, and is not intended to serve as specific investment guidance. It does not make a recommendation to purchase or divest any stock and does not take into account personal investment objectives or financial situation. Our goal is to provide long-term, fundamental data-driven analysis. Please note that our analysis may not include the latest, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in the stocks mentioned in this article.
This article was first published on GuruFocus.
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