Informed Momentum Co LLC Purchases New Shares in SoundThinking, Inc. (NASDAQ:SSTI)

Key Points

• Informed Momentum Co LLC acquired a stake of 43,166 shares in SoundThinking, Inc. (NASDAQ:SSTI), valued at approximately $732,000, increasing its ownership to 0.34% of the company.
• Insider Nasim Golzadeh sold 1,809 shares at an average price of $15.46, reflecting a decrease in their position, while company insiders currently own 10.40% of the stock.
• SoundThinking's stock recently opened at $11.18 and the company reported earnings of ($0.24) EPS, missing estimates, with a consensus rating of "Buy" and a price target of $21.00 from analysts.

Informed Momentum Co LLC acquired a new position in shares of SoundThinking, Inc. (NASDAQ:SSTI - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 43,166 shares of the company's stock, valued at approximately $732,000. Informed Momentum Co LLC owned about 0.34% of SoundThinking at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of SoundThinking by 6,553.7% in the first quarter. GAMMA Investing LLC now owns 13,374 shares of the company's stock worth $227,000 after purchasing an additional 13,173 shares in the last quarter. Rhumbline Advisers grew its stake in shares of SoundThinking by 10.1% in the first quarter. Rhumbline Advisers now owns 14,980 shares of the company's stock worth $254,000 after purchasing an additional 1,373 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of SoundThinking by 77.0% in the fourth quarter. BNP Paribas Financial Markets now owns 15,655 shares of the company's stock worth $204,000 after purchasing an additional 6,812 shares in the last quarter. Two Sigma Advisers LP grew 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 worth $243,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of SoundThinking by 99.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 21,035 shares of the company's stock worth $275,000 after purchasing an additional 10,479 shares in the last quarter. 60.74% of the stock is currently owned by institutional investors.

SoundThinking Stock Up 1.9%

Shares of SSTI stock traded up $0.24 during mid-day trading on Friday, reaching $12.76. The stock had a trading volume of 88,367 shares, compared to its average volume of 60,713. The firm's 50 day simple moving average is $13.45 and its 200 day simple moving average is $14.83. SoundThinking, Inc. has a one year low of $9.33 and a one year high of $19.43. The firm has a market cap of $163.20 million, a PE ratio of -16.15 and a beta of 1.26.

SoundThinking (NASDAQ:SSTI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.15). SoundThinking had a negative return on equity of 13.76% and a negative net margin of 9.74%. The firm had revenue of $25.89 million during the quarter, compared to the consensus estimate of $26.61 million. Sell-side analysts forecast that SoundThinking, Inc. will post -0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Lake Street Capital decreased their price target on SoundThinking from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday. Wall Street Zen downgraded SoundThinking from a "hold" rating to a "sell" rating in a report on Saturday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $20.00 target price on shares of SoundThinking in a report on Wednesday, May 14th. Finally, Roth Mkm reissued a "buy" rating and issued a $30.00 price objective on shares of SoundThinking in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.80.

Insider Activity at SoundThinking

In related news, insider Nasim Golzadeh sold 1,809 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider owned 94,134 shares in the company, valued at $1,455,311.64. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 3,474 shares of company stock valued at $53,205. 10.40% of the stock is currently owned by company insiders.

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.