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

SoundThinking logo with Industrials background

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.
  • Need better tools to track SoundThinking? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in SoundThinking by 18.5% during the fourth quarter. JPMorgan Chase & Co. now owns 66,429 shares of the company's stock worth $868,000 after acquiring an additional 10,357 shares in the last quarter. Geode Capital Management LLC lifted its holdings in SoundThinking by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 216,121 shares of the company's stock worth $2,823,000 after acquiring an additional 2,547 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in SoundThinking by 681.6% during the fourth 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in SoundThinking by 17.5% during the fourth quarter. Renaissance Technologies LLC now owns 93,132 shares of the company's stock worth $1,216,000 after acquiring an additional 13,900 shares in the last quarter. Finally, Barclays PLC lifted its holdings in SoundThinking by 31.2% during the fourth quarter. Barclays PLC now owns 32,477 shares of the company's stock worth $424,000 after acquiring an additional 7,722 shares in the last quarter. 60.74% of the stock is currently owned by institutional investors.

SoundThinking Price Performance

Shares of SSTI traded down $0.43 during midday trading on Thursday, hitting $12.52. The stock had a trading volume of 104,558 shares, compared to its average volume of 59,529. The company has a 50 day simple moving average of $13.52 and a two-hundred day simple moving average of $14.83. SoundThinking, Inc. has a twelve month low of $9.33 and a twelve month high of $19.43. The firm has a market cap of $158.63 million, a price-to-earnings ratio of -15.85 and a beta of 1.26.

SoundThinking (NASDAQ:SSTI - Get Free Report) last released its quarterly 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 13.82%. The firm had revenue of $25.89 million during the quarter, compared to analyst estimates of $26.61 million. Analysts forecast that SoundThinking, Inc. will post -0.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on SSTI shares. Lake Street Capital reduced their target price on SoundThinking from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $20.00 target price on shares of SoundThinking in a report on Wednesday, May 14th. Finally, Roth Mkm reiterated a "buy" rating and set a $30.00 target price on shares of SoundThinking in a report on Wednesday, May 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, SoundThinking currently has an average rating of "Buy" and a consensus target price of $20.80.

Read Our Latest Research Report on SSTI

Insider Activity

In related news, insider Nasim Golzadeh sold 1,809 shares of SoundThinking stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $15.46, for a total value of $27,967.14. Following the sale, the insider owned 94,134 shares of the company's stock, valued at approximately $1,455,311.64. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,474 shares of company stock valued at $53,205 over the last 90 days. 10.40% of the stock is currently owned by insiders.

About SoundThinking

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for SoundThinking (NASDAQ:SSTI)

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