SoundThinking, Inc. (NASDAQ:SSTI) Stake Lessened by Acuitas Investments LLC

Acuitas Investments LLC decreased its position in shares of SoundThinking, Inc. (NASDAQ:SSTI) by 23.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,749 shares of the company’s stock after selling 20,878 shares during the period. Acuitas Investments LLC owned 0.55% of SoundThinking worth $850,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SSTI. Rhumbline Advisers raised its stake in shares of SoundThinking by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after buying an additional 716 shares in the last quarter. Premier Fund Managers Ltd bought a new stake in SoundThinking in the fourth quarter worth about $252,000. Cim LLC acquired a new stake in SoundThinking in the 4th quarter valued at about $415,000. Bank of New York Mellon Corp boosted its position in shares of SoundThinking by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock valued at $482,000 after purchasing an additional 3,268 shares in the last quarter. Finally, Pullen Investment Management LLC acquired a new position in shares of SoundThinking in the 2nd quarter worth approximately $632,000. 60.74% of the stock is currently owned by institutional investors and hedge funds.

SoundThinking Trading Down 0.5 %

Shares of SoundThinking stock opened at $13.41 on Friday. SoundThinking, Inc. has a 1 year low of $11.00 and a 1 year high of $26.92. The company has a market cap of $171.55 million, a P/E ratio of -41.91 and a beta of 1.21. The stock has a 50-day moving average price of $13.77 and a 200 day moving average price of $14.54.

SoundThinking (NASDAQ:SSTI) last issued its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $26.96 million for the quarter, compared to the consensus estimate of $25.60 million. SoundThinking had a negative return on equity of 8.44% and a negative net margin of 1.85%. On average, equities analysts forecast that SoundThinking, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on SSTI. Roth Mkm reiterated a “buy” rating and issued a $30.00 target price on shares of SoundThinking in a report on Wednesday, May 15th. William Blair downgraded SoundThinking from an “outperform” rating to a “market perform” rating in a research report on Friday, May 17th. Cantor Fitzgerald decreased their target price on SoundThinking from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Craig Hallum reduced their target price on SoundThinking from $19.00 to $17.50 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Lake Street Capital assumed coverage on SoundThinking in a research report on Friday, May 24th. They issued a “buy” rating and a $21.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.13.

Insider Buying and Selling at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of SoundThinking stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total transaction of $88,373.56. Following the completion of the sale, the chief executive officer now owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Ralph A. Clark sold 6,479 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total value of $88,373.56. Following the transaction, the chief executive officer now directly owns 529,894 shares of the company’s stock, valued at $7,227,754.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Clark sold 5,591 shares of SoundThinking stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total value of $80,286.76. Following the sale, the chief executive officer now directly owns 536,373 shares of the company’s stock, valued at approximately $7,702,316.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,161 shares of company stock worth $197,976. 7.70% of the stock is currently owned by company insiders.

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.