Insider Selling: SoundThinking, Inc. (NASDAQ:SSTI) CEO Sells 5,933 Shares of Stock

SoundThinking, Inc. (NASDAQ:SSTI - Get Free Report) CEO Ralph A. Clark sold 5,933 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.61, for a total transaction of $68,882.13. Following the completion of the transaction, the chief executive officer now owns 520,774 shares of the company's stock, valued at $6,046,186.14. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

SoundThinking Stock Performance

SSTI traded down $0.39 on Wednesday, reaching $12.32. The company had a trading volume of 103,994 shares, compared to its average volume of 62,474. SoundThinking, Inc. has a 52-week low of $9.33 and a 52-week high of $26.92. The company has a market cap of $155.10 million, a price-to-earnings ratio of -102.66 and a beta of 1.19. The business has a 50 day simple moving average of $12.00 and a 200 day simple moving average of $12.86.

SoundThinking (NASDAQ:SSTI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. The company had revenue of $26.25 million for the quarter, compared to analysts' expectations of $26.20 million. During the same quarter last year, the business posted ($0.09) EPS. As a group, equities research analysts predict that SoundThinking, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On SoundThinking

A number of large investors have recently added to or reduced their stakes in SSTI. Rice Hall James & Associates LLC boosted its stake in SoundThinking by 70.3% in the second quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company's stock worth $2,816,000 after buying an additional 95,492 shares in the last quarter. Walleye Capital LLC grew its holdings in SoundThinking by 61.9% in the 3rd quarter. Walleye Capital LLC now owns 51,932 shares of the company's stock worth $602,000 after acquiring an additional 19,861 shares during the last quarter. Federated Hermes Inc. increased its holdings in SoundThinking by 14.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company's stock valued at $18,331,000 after purchasing an additional 190,000 shares during the period. Disciplined Growth Investors Inc. MN purchased a new position in shares of SoundThinking during the third quarter valued at approximately $5,354,000. Finally, Cubist Systematic Strategies LLC purchased a new position in SoundThinking during the 2nd quarter valued at $298,000. Hedge funds and other institutional investors own 60.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SSTI. JMP Securities lowered their target price on shares of SoundThinking from $25.00 to $19.00 and set a "market outperform" rating on the stock in a research note on Wednesday, November 13th. Cantor Fitzgerald raised shares of SoundThinking to a "strong-buy" rating in a report on Thursday, November 14th. Finally, Craig Hallum dropped their price objective on SoundThinking from $17.50 to $16.00 and set a "hold" rating for the company in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SoundThinking has a consensus rating of "Moderate Buy" and an average price target of $21.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.