Goldman Sachs Group Inc. Trims Stock Position in SoundThinking, Inc. $SSTI

Key Points

• Goldman Sachs has reduced its holdings in SoundThinking, Inc. by 29.5%, selling 25,868 shares and now owns 61,768 shares, worth approximately $1.05 million.
• Insider transactions reveal that CEO Ralph A. Clark sold 16,161 shares recently, decreasing his ownership by 2.67% to a total of 588,638 shares.
• SoundThinking's stock has been downgraded from a "hold" to a "sell" rating by Wall Street analysts, with an average price target of $20.80.

Goldman Sachs Group Inc. cut its stake in shares of SoundThinking, Inc. (NASDAQ:SSTI - Free Report) by 29.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,768 shares of the company's stock after selling 25,868 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.49% of SoundThinking worth $1,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SSTI. BNP Paribas Financial Markets boosted its stake in SoundThinking by 77.0% during the fourth quarter. BNP Paribas Financial Markets now owns 15,655 shares of the company's stock worth $204,000 after acquiring an additional 6,812 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in SoundThinking by 21.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 40,362 shares of the company's stock worth $527,000 after acquiring an additional 7,109 shares in the last quarter. Millennium Management LLC boosted its stake in SoundThinking by 11.5% during the fourth quarter. Millennium Management LLC now owns 62,300 shares of the company's stock worth $814,000 after acquiring an additional 6,416 shares in the last quarter. Man Group plc boosted its stake in SoundThinking by 130.1% during the fourth quarter. Man Group plc now owns 30,020 shares of the company's stock worth $392,000 after acquiring an additional 16,975 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of SoundThinking by 18.6% in the fourth quarter. Two Sigma Investments LP now owns 48,719 shares of the company's stock valued at $636,000 after buying an additional 7,636 shares in the last quarter. 60.74% of the stock is owned by institutional investors.

SoundThinking Stock Up 2.6%

NASDAQ SSTI traded up $0.32 during trading hours on Monday, reaching $12.60. 76,273 shares of the company were exchanged, compared to its average volume of 65,716. SoundThinking, Inc. has a 1 year low of $9.33 and a 1 year high of $19.43. The business's 50 day simple moving average is $12.24 and its 200-day simple moving average is $14.45. The stock has a market capitalization of $161.15 million, a P/E ratio of -15.95 and a beta of 1.16.

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

Insider Transactions at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 16,161 shares of SoundThinking stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $11.80, for a total transaction of $190,699.80. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 18,925 shares of company stock worth $223,967 in the last three months. Insiders own 10.40% of the company's stock.

Wall Street Analysts Forecast Growth

SSTI has been the topic of a number of recent research reports. Wall Street Zen lowered shares of SoundThinking from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Lake Street Capital dropped their price objective on shares of SoundThinking from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $20.80.

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.