JMP Securities Cuts SoundThinking (NASDAQ:SSTI) Price Target to $19.00

SoundThinking (NASDAQ:SSTI) had its price objective trimmed by JMP Securities from $25.00 to $19.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research analysts also recently weighed in on SSTI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of SoundThinking in a report on Friday, September 6th. 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. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Trading Down 0.8 %

SoundThinking stock opened at $11.43 on Wednesday. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92. The firm has a market capitalization of $146.08 million, a price-to-earnings ratio of -95.24 and a beta of 1.17. The firm has a 50 day moving average of $11.70 and a 200 day moving average of $13.17.

Insider Buying and Selling

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total transaction of $88,373.56. Following the sale, the chief executive officer now owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 14,327 shares of company stock valued at $199,955 over the last three months. 9.20% of the stock is owned by company insiders.

Institutional Trading of SoundThinking

Several hedge funds have recently modified their holdings of SSTI. BNP Paribas Financial Markets raised its stake in shares of SoundThinking by 145.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock worth $102,000 after acquiring an additional 5,236 shares in the last quarter. Rhumbline Advisers grew its holdings in SoundThinking by 5.4% in the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after purchasing an additional 716 shares during the last quarter. Ibex Investors LLC acquired a new position in shares of SoundThinking during the second quarter worth $171,000. Cim LLC lifted its holdings in shares of SoundThinking by 18.5% during the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock valued at $266,000 after purchasing an additional 3,094 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in SoundThinking in the second quarter valued at about $298,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

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.