Brown Advisory Inc. Buys New Position in SoundThinking, Inc. (NASDAQ:SSTI)

Brown Advisory Inc. bought a new position in shares of SoundThinking, Inc. (NASDAQ:SSTI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 31,554 shares of the company's stock, valued at approximately $535,000. Brown Advisory Inc. owned 0.25% of SoundThinking as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pullen Investment Management LLC raised its position in shares of SoundThinking by 61.1% in the 4th quarter. Pullen Investment Management LLC now owns 142,040 shares of the company's stock valued at $1,855,000 after buying an additional 53,888 shares in the last quarter. Mackenzie Financial Corp bought a new stake in SoundThinking during the 4th quarter worth approximately $560,000. Wells Fargo & Company MN grew its holdings in SoundThinking by 681.6% during the 4th quarter. Wells Fargo & Company MN now owns 45,468 shares of the company's stock worth $594,000 after acquiring an additional 39,651 shares during the last quarter. Archon Capital Management LLC boosted its stake in shares of SoundThinking by 40.6% in the 4th quarter. Archon Capital Management LLC now owns 131,538 shares of the company's stock valued at $1,718,000 after purchasing an additional 38,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of SoundThinking in the 4th quarter valued at $459,000. Institutional investors own 60.74% of the company's stock.

Insiders Place Their Bets

In related news, insider Nasim Golzadeh sold 1,809 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $15.46, for a total transaction of $27,967.14. Following the sale, the insider owned 94,134 shares in the company, valued at approximately $1,455,311.64. This represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 3,474 shares of company stock valued at $53,205. Corporate insiders own 9.20% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SSTI. Roth Mkm restated a "buy" rating and set a $30.00 price objective on shares of SoundThinking in a report on Wednesday, May 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $20.00 price objective on shares of SoundThinking in a research report on Wednesday, May 14th. Finally, Lake Street Capital lifted their price target on shares of SoundThinking from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $21.00.

SoundThinking Price Performance

NASDAQ:SSTI traded down $0.40 during trading hours on Wednesday, hitting $12.23. The company had a trading volume of 49,873 shares, compared to its average volume of 61,173. SoundThinking, Inc. has a 52 week low of $9.33 and a 52 week high of $19.43. The company has a market capitalization of $154.95 million, a PE ratio of -20.05 and a beta of 1.22. The stock has a 50-day moving average price of $14.95 and a 200 day moving average price of $14.98.

SoundThinking (NASDAQ:SSTI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). SoundThinking had a negative return on equity of 10.77% and a negative net margin of 7.39%. The company had revenue of $28.35 million during the quarter, compared to analysts' expectations of $26.91 million. Analysts anticipate that SoundThinking, Inc. will post -0.42 EPS for the current fiscal year.

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.