SoundThinking (NASDAQ:SSTI) Given New $19.00 Price Target at JMP Securities

SoundThinking (NASDAQ:SSTI) had its target price trimmed by JMP Securities from $25.00 to $19.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of SoundThinking in a research report on Friday, September 6th. Craig Hallum dropped their price objective on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Stock Performance

Shares of SSTI opened at $11.43 on Wednesday. The stock has a 50-day moving average of $11.70 and a two-hundred day moving average of $13.17. The stock has a market cap of $146.08 million, a P/E ratio of -95.24 and a beta of 1.17. SoundThinking has a one year low of $9.33 and a one year high of $26.92.

Insider Buying and Selling at SoundThinking

In related news, CEO Ralph A. Clark sold 5,591 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $7,702,316.28. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of SoundThinking by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after purchasing an additional 32,452 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in SoundThinking in the first quarter valued at approximately $923,000. Bares Capital Management Inc. increased its position in shares of SoundThinking by 4.9% in the first quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock valued at $12,313,000 after buying an additional 36,187 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 worth $482,000 after buying an additional 3,268 shares during the period. Finally, Pullen Investment Management LLC purchased a new position in shares of SoundThinking during the 2nd quarter valued at approximately $632,000. Institutional investors and hedge funds own 60.74% of the company’s stock.

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.