SoundThinking, Inc. (NASDAQ:SSTI) Shares Purchased by Pullen Investment Management LLC

Pullen Investment Management LLC increased its holdings in shares of SoundThinking, Inc. (NASDAQ:SSTI) by 12.0% during the first quarter, HoldingsChannel reports. The fund owned 159,138 shares of the company’s stock after buying an additional 17,098 shares during the period. SoundThinking comprises approximately 1.7% of Pullen Investment Management LLC’s investment portfolio, making the stock its 13th biggest holding. Pullen Investment Management LLC’s holdings in SoundThinking were worth $2,697,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SSTI. Mackenzie Financial Corp purchased a new stake in SoundThinking during the fourth quarter worth $560,000. Wells Fargo & Company MN boosted its position in SoundThinking by 681.6% during the fourth quarter. Wells Fargo & Company MN now owns 45,468 shares of the company’s stock worth $594,000 after purchasing an additional 39,651 shares in the last quarter. Archon Capital Management LLC boosted its position in SoundThinking by 40.6% during the fourth quarter. Archon Capital Management LLC now owns 131,538 shares of the company’s stock worth $1,718,000 after purchasing an additional 38,000 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in SoundThinking by 9.8% during the fourth quarter. Rice Hall James & Associates LLC now owns 397,728 shares of the company’s stock worth $5,194,000 after purchasing an additional 35,584 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in SoundThinking during the fourth quarter worth $459,000. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nasim Golzadeh sold 1,809 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $15.46, for a total transaction of $27,967.14. Following the transaction, the insider now directly owns 94,134 shares in the company, valued at approximately $1,455,311.64. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 3,474 shares of company stock worth $53,205 over the last three months. 9.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of SoundThinking in a research report on Wednesday, May 14th. Lake Street Capital boosted their target price on SoundThinking from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Craig Hallum upgraded SoundThinking from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Roth Mkm reiterated a “buy” rating and set a $30.00 target price on shares of SoundThinking in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $21.00.

SoundThinking Stock Down 1.8%

Shares of NASDAQ:SSTI opened at $16.00 on Friday. SoundThinking, Inc. has a 52-week low of $9.33 and a 52-week high of $19.43. The stock’s fifty day simple moving average is $15.67 and its 200-day simple moving average is $14.78. The company has a market capitalization of $202.77 million, a P/E ratio of -133.32 and a beta of 1.28.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. The company had revenue of $28.35 million during the quarter, compared to analysts’ expectations of $26.91 million. On average, sell-side analysts anticipate that SoundThinking, Inc. will post -0.42 earnings per share for the current year.

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.