Squarepoint Ops LLC Reduces Stake in SoundThinking, Inc. (NASDAQ:SSTI)

Squarepoint Ops LLC lowered its holdings in SoundThinking, Inc. (NASDAQ:SSTI - Free Report) by 33.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,664 shares of the company's stock after selling 15,667 shares during the quarter. Squarepoint Ops LLC owned about 0.25% of SoundThinking worth $414,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rice Hall James & Associates LLC increased its holdings in shares of SoundThinking by 9.8% in the 4th quarter. Rice Hall James & Associates LLC now owns 397,728 shares of the company's stock valued at $5,194,000 after acquiring an additional 35,584 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SoundThinking by 29.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,733 shares of the company's stock valued at $924,000 after acquiring an additional 15,943 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of SoundThinking by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 216,121 shares of the company's stock valued at $2,823,000 after acquiring an additional 2,547 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of SoundThinking in the 4th quarter valued at about $228,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of SoundThinking in the 4th quarter valued at about $329,000. Hedge funds and other institutional investors own 60.74% of the company's stock.

Insiders Place Their Bets

In other SoundThinking news, insider Nasim Golzadeh sold 1,809 shares of the 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 sale, the insider now directly owns 94,134 shares of the company's stock, 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 ninety days, insiders sold 3,637 shares of company stock valued at $55,701. 9.20% of the stock is owned by company insiders.

SoundThinking Stock Up 0.3%

NASDAQ:SSTI opened at $15.96 on Friday. The stock's 50 day moving average price is $15.63 and its 200 day moving average price is $14.61. The company has a market capitalization of $202.26 million, a PE ratio of -132.99 and a beta of 1.21. SoundThinking, Inc. has a 52-week low of $9.33 and a 52-week high of $19.43.

SoundThinking (NASDAQ:SSTI - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). SoundThinking had a negative return on equity of 8.74% and a negative net margin of 1.39%. The firm had revenue of $28.35 million for the quarter, compared to analysts' expectations of $26.91 million. As a group, sell-side analysts anticipate that SoundThinking, Inc. will post -0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SSTI shares. Craig Hallum upgraded SoundThinking from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Cantor Fitzgerald restated an "overweight" rating and set a $20.00 price target on shares of SoundThinking in a research note on Wednesday, May 14th. Lake Street Capital raised their price target on SoundThinking from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Roth Mkm restated a "buy" rating and set a $30.00 price target on shares of SoundThinking in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $21.00.

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.

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