JPMorgan Chase & Co. Purchases 27,091 Shares of SoundThinking, Inc. (NASDAQ:SSTI)

JPMorgan Chase & Co. raised its stake in SoundThinking, Inc. (NASDAQ:SSTI - Free Report) by 93.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 56,072 shares of the company's stock after buying an additional 27,091 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.45% of SoundThinking worth $650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SSTI. Rhumbline Advisers increased its position in SoundThinking by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company's stock valued at $170,000 after acquiring an additional 716 shares during the period. Hsbc Holdings PLC bought a new position in shares of SoundThinking in the second quarter worth $398,000. Cubist Systematic Strategies LLC acquired a new position in shares of SoundThinking during the second quarter valued at $298,000. Squarepoint Ops LLC raised its stake in shares of SoundThinking by 113.6% during the second quarter. Squarepoint Ops LLC now owns 38,199 shares of the company's stock valued at $465,000 after purchasing an additional 20,313 shares in the last quarter. Finally, Cim LLC lifted its holdings in SoundThinking by 18.5% in the second quarter. Cim LLC now owns 19,828 shares of the company's stock worth $266,000 after purchasing an additional 3,094 shares during the period. Institutional investors and hedge funds own 60.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. Craig Hallum dropped their target price on SoundThinking from $17.50 to $16.00 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded SoundThinking to a "strong-buy" rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, SoundThinking presently has a consensus rating of "Moderate Buy" and an average target price of $21.20.

Insider Activity

In other SoundThinking news, CEO Ralph A. Clark sold 5,933 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.61, for a total transaction of $68,882.13. Following the completion of the sale, the chief executive officer now directly owns 520,774 shares in the company, valued at approximately $6,046,186.14. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alan R. Stewart sold 15,000 shares of SoundThinking stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $13.95, for a total value of $209,250.00. Following the transaction, the chief financial officer now directly owns 138,851 shares in the company, valued at approximately $1,936,971.45. This trade represents a 9.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,621 shares of company stock valued at $336,458 over the last three months. Insiders own 9.20% of the company's stock.

SoundThinking Trading Down 1.2 %

Shares of NASDAQ SSTI traded down $0.16 during midday trading on Friday, reaching $13.40. The company's stock had a trading volume of 19,562 shares, compared to its average volume of 39,310. SoundThinking, Inc. has a one year low of $9.33 and a one year high of $22.37. The company has a market cap of $168.72 million, a price-to-earnings ratio of -111.42 and a beta of 1.18. The company has a 50 day moving average price of $13.01 and a 200 day moving average price of $12.87.

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

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.