Federated Hermes Inc. Cuts Stock Holdings in SoundThinking, Inc. (NASDAQ:SSTI)

Key Points

• Federated Hermes Inc. has reduced its stake in SoundThinking, Inc. by 11.5%, now owning approximately 9.75% of the company, valued at $20.93 million.
• Analysts have set new price targets for SoundThinking, with ratings indicating a buy from five analysts and an average target price of $21.00.
• SoundThinking reported a quarterly loss of ($0.12) earnings per share, missing estimates, despite generating revenues of $28.35 million.

Federated Hermes Inc. trimmed its stake in SoundThinking, Inc. (NASDAQ:SSTI - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,235,000 shares of the company's stock after selling 160,000 shares during the period. Federated Hermes Inc. owned 9.75% of SoundThinking worth $20,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pullen Investment Management LLC lifted its position in SoundThinking by 61.1% during the 4th quarter. Pullen Investment Management LLC now owns 142,040 shares of the company's stock valued at $1,855,000 after acquiring an additional 53,888 shares during the period. Mackenzie Financial Corp lifted its position in SoundThinking by 120.1% during the 1st quarter. Mackenzie Financial Corp now owns 94,362 shares of the company's stock valued at $1,599,000 after acquiring an additional 51,498 shares during the period. Wells Fargo & Company MN lifted its position in SoundThinking by 681.6% during the 4th quarter. Wells Fargo & Company MN now owns 45,468 shares of the company's stock valued at $594,000 after acquiring an additional 39,651 shares during the period. Archon Capital Management LLC raised its stake in SoundThinking by 40.6% during the fourth quarter. Archon Capital Management LLC now owns 131,538 shares of the company's stock valued at $1,718,000 after buying an additional 38,000 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in SoundThinking during the fourth quarter valued at $459,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nasim Golzadeh sold 1,809 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $15.46, for a total value of $27,967.14. Following the completion of the sale, the insider owned 94,134 shares in the company, valued at approximately $1,455,311.64. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 3,474 shares of company stock valued at $53,205. 9.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SSTI has been the subject of several recent analyst reports. Lake Street Capital lifted their target price on shares of SoundThinking from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Roth Mkm reaffirmed a "buy" rating and issued a $30.00 target price on shares of SoundThinking in a report on Wednesday, May 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $20.00 target price on shares of SoundThinking in a report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $21.00.

SoundThinking Trading Down 3.7%

Shares of NASDAQ:SSTI traded down $0.42 during midday trading on Friday, reaching $10.99. 68,614 shares of the company were exchanged, compared to its average volume of 50,319. The business's fifty day moving average is $14.22 and its two-hundred day moving average is $14.93. SoundThinking, Inc. has a one year low of $9.33 and a one year high of $19.43. The stock has a market cap of $139.24 million, a PE ratio of -18.02 and a beta of 1.26.

SoundThinking (NASDAQ:SSTI - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). SoundThinking had a negative net margin of 7.39% and a negative return on equity of 10.77%. The business had revenue of $28.35 million for the quarter, compared to the consensus estimate of $26.91 million. As a group, sell-side analysts expect that SoundThinking, Inc. will post -0.42 EPS for the current year.

SoundThinking Company 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.