Analysts Set SoundThinking, Inc. (NASDAQ:SSTI) PT at $21.20

SoundThinking, Inc. (NASDAQ:SSTI) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.20.

A number of analysts recently issued reports on the stock. JMP Securities dropped their price target on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of SoundThinking in a research note on Friday, September 6th. Finally, Craig Hallum dropped their price target on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research note on Wednesday.

Insider Activity

In related news, CEO Ralph A. Clark sold 5,591 shares of SoundThinking stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total transaction of $80,286.76. Following the sale, the chief executive officer now directly owns 536,373 shares in the company, valued at $7,702,316.28. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoundThinking

Several hedge funds and other institutional investors have recently bought and sold shares of SSTI. Vanguard Group Inc. raised its position in SoundThinking by 6.9% in the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after acquiring an additional 32,452 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in SoundThinking during the 1st quarter worth about $923,000. Bares Capital Management Inc. raised its holdings in SoundThinking by 4.9% during the 1st quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock worth $12,313,000 after buying an additional 36,187 shares during the period. Bank of New York Mellon Corp raised its holdings in SoundThinking by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock worth $482,000 after buying an additional 3,268 shares during the period. Finally, Pullen Investment Management LLC purchased a new position in SoundThinking during the 2nd quarter valued at about $632,000. 60.74% of the stock is currently owned by institutional investors.

SoundThinking Stock Down 0.8 %

SSTI opened at $11.43 on Wednesday. The firm’s 50 day moving average is $11.70 and its 200-day moving average is $13.17. The firm has a market capitalization of $146.08 million, a P/E ratio of -95.24 and a beta of 1.17. SoundThinking has a 52-week low of $9.33 and a 52-week high of $26.92.

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.