Nuveen LLC Makes New Investment in SoundThinking, Inc. $SSTI

Key Points

• Nuveen LLC acquired 24,369 shares of SoundThinking, Inc. ($SSTI) for approximately $413,000, representing about 0.19% ownership in the company.
• CEO Ralph A. Clark sold 16,161 shares at an average price of $11.80, reducing his ownership by 2.67% to approximately $6.9 million in value.
• SoundThinking's recent earnings report revealed a loss of ($0.24) EPS, missing estimates, with analysts forecasting a consensus price target of $20.80 for the stock.

Nuveen LLC bought a new stake in SoundThinking, Inc. (NASDAQ:SSTI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,369 shares of the company's stock, valued at approximately $413,000. Nuveen LLC owned approximately 0.19% of SoundThinking as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Rice Hall James & Associates LLC raised its holdings in shares of SoundThinking by 5.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 420,187 shares of the company's stock worth $7,122,000 after purchasing an additional 22,459 shares during the period. Mackenzie Financial Corp increased its position in SoundThinking by 120.1% in the first quarter. Mackenzie Financial Corp now owns 94,362 shares of the company's stock worth $1,599,000 after buying an additional 51,498 shares during the last quarter. Pullen Investment Management LLC raised its stake in shares of SoundThinking by 12.0% in the first quarter. Pullen Investment Management LLC now owns 159,138 shares of the company's stock valued at $2,697,000 after buying an additional 17,098 shares during the period. Two Sigma Advisers LP raised its stake in shares of SoundThinking by 80.6% in the fourth quarter. Two Sigma Advisers LP now owns 18,600 shares of the company's stock valued at $243,000 after buying an additional 8,300 shares during the period. Finally, Man Group plc lifted its position in shares of SoundThinking by 130.1% during the 4th quarter. Man Group plc now owns 30,020 shares of the company's stock valued at $392,000 after buying an additional 16,975 shares during the last quarter. 60.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ralph A. Clark sold 16,161 shares of SoundThinking stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $11.80, for a total value of $190,699.80. Following the sale, the chief executive officer owned 588,638 shares in the company, valued at $6,945,928.40. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 18,925 shares of company stock valued at $223,967 in the last ninety days. Insiders own 10.40% of the company's stock.

SoundThinking Stock Up 4.5%

NASDAQ:SSTI traded up $0.54 during trading hours on Wednesday, hitting $12.53. 115,278 shares of the company's stock traded hands, compared to its average volume of 74,139. SoundThinking, Inc. has a 52 week low of $9.33 and a 52 week high of $19.43. The business's fifty day simple moving average is $12.46 and its two-hundred day simple moving average is $14.64. The firm has a market cap of $160.26 million, a P/E ratio of -15.86 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.15). SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. The company had revenue of $25.89 million for the quarter, compared to the consensus estimate of $26.61 million. SoundThinking has set its FY 2025 guidance at EPS. On average, analysts expect that SoundThinking, Inc. will post -0.42 EPS for the current year.

Analyst Ratings Changes

SSTI has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $20.00 price objective on shares of SoundThinking in a research note on Wednesday, May 14th. Lake Street Capital reduced their price target on SoundThinking from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Roth Mkm reiterated a "buy" rating and set a $30.00 price objective on shares of SoundThinking in a research note on Wednesday, May 14th. Finally, Wall Street Zen downgraded SoundThinking from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, SoundThinking currently has an average rating of "Buy" and a consensus target price of $20.80.

SoundThinking Profile

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.