Insider Selling: SoundThinking, Inc. (NASDAQ:SSTI) CEO Sells 6,479 Shares of Stock

SoundThinking, Inc. (NASDAQ:SSTI) CEO Ralph A. Clark sold 6,479 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total transaction of $88,373.56. Following the sale, the chief executive officer now directly owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SoundThinking Price Performance

NASDAQ:SSTI opened at $13.41 on Friday. The firm has a market capitalization of $171.55 million, a P/E ratio of -41.91 and a beta of 1.21. The company’s fifty day moving average price is $13.77 and its 200-day moving average price is $14.54. SoundThinking, Inc. has a 1-year low of $11.00 and a 1-year high of $26.92.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $26.96 million for the quarter, compared to analyst estimates of $25.60 million. SoundThinking had a negative net margin of 1.85% and a negative return on equity of 8.44%. Equities analysts anticipate that SoundThinking, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

SSTI has been the topic of a number of recent analyst reports. Lake Street Capital initiated coverage on shares of SoundThinking in a research note on Friday, May 24th. They set a “buy” rating and a $21.00 price target on the stock. Roth Mkm restated a “buy” rating and set a $30.00 price target on shares of SoundThinking in a research note on Wednesday, May 15th. William Blair lowered shares of SoundThinking from an “outperform” rating to a “market perform” rating in a research note on Friday, May 17th. Craig Hallum cut their price target on shares of SoundThinking from $19.00 to $17.50 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald cut their price objective on shares of SoundThinking from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.13.

Hedge Funds Weigh In On SoundThinking

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSTI. Federated Hermes Inc. lifted its holdings in SoundThinking by 14.4% during the second quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock valued at $18,331,000 after purchasing an additional 190,000 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in SoundThinking by 70.3% during the second quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company’s stock valued at $2,816,000 after purchasing an additional 95,492 shares in the last quarter. Bares Capital Management Inc. lifted its holdings in SoundThinking by 10.7% during the fourth quarter. Bares Capital Management Inc. now owns 739,213 shares of the company’s stock valued at $18,880,000 after purchasing an additional 71,705 shares in the last quarter. Quadrature Capital Ltd purchased a new position in SoundThinking during the first quarter valued at $923,000. Finally, Pullen Investment Management LLC purchased a new position in SoundThinking during the second quarter valued at $632,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

About SoundThinking

SoundThinking, Inc, a public safety technology company that provides transformative solutions and strategic advisory services for law enforcement and civic leadership. Its SafetySmart Platform, an integrated suite of data-driven tools that enable law enforcement and community violence prevention and health organizations to be efficient in public safety outcomes.