SilverSun Technologies, Inc. (NASDAQ:SSNT) CEO Mark Meller has sold a total of 14,584 shares of the company's common stock, according to a recent SEC filing. The transactions, which took place on March 25, 2024, resulted in proceeds exceeding $190,000 for Meller.
The shares were sold at an average price of $13.0761, with individual sales prices ranging from $13.00 to $13.22 per share. Following the sale, the CEO still owns 295,152 shares of SilverSun Technologies, indicating a continued significant investment in the company's future.
SilverSun Technologies is known for its services in computer processing and data preparation, and has been a player in the technology sector under its current name since a former name change from Trey Resources Inc. in 2005.
The sale by the CEO is a notable event for investors and market watchers, as executive transactions often attract attention for their potential insights into company health and executive confidence. However, the reasons for Meller's stock sale were not disclosed in the filing.
Investors and those interested in the company's stock transactions can request more detailed information about the sales, including the exact number of shares sold at each price point within the reported range, as noted in the SEC filing's footnote.
The company's shares are traded on NASDAQ, and this recent transaction is now part of the public record for SilverSun Technologies and its shareholders to consider.
InvestingPro Insights
In light of the recent sale of shares by SilverSun Technologies' CEO Mark Meller, it's pertinent to look at some of the financial metrics and market performance of the company. According to InvestingPro data, SilverSun Technologies currently holds a market capitalization of 69.26 million USD. Despite the sale, the company's stock has shown a remarkable six-month price total return of 334.33%, reflecting a significant increase in share value over that period.
InvestingPro Tips suggest that while SilverSun Technologies has experienced high returns over the last year, with a 349.7% one-year price total return, the stock price movements are quite volatile. This could be a factor for investors to consider, especially in light of the recent insider selling. Additionally, the company holds more cash than debt on its balance sheet, which could be a sign of financial stability and potential for future investments or operations.
For those looking for more detailed analysis and additional InvestingPro Tips for SilverSun Technologies, there are 13 more tips available at Investing.com/pro/SSNT. To enhance your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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