Federated Hermes Inc. Raises Stock Holdings in SoundThinking, Inc. (NASDAQ:SSTI)

Federated Hermes Inc. raised its stake in SoundThinking, Inc. (NASDAQ:SSTI) by 14.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,505,000 shares of the company’s stock after purchasing an additional 190,000 shares during the period. Federated Hermes Inc. owned 0.12% of SoundThinking worth $18,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SSTI. Bares Capital Management Inc. boosted its holdings in shares of SoundThinking by 10.7% in the 4th quarter. Bares Capital Management Inc. now owns 739,213 shares of the company’s stock valued at $18,880,000 after buying an additional 71,705 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in SoundThinking by 70.3% in the second quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company’s stock valued at $2,816,000 after acquiring an additional 95,492 shares in the last quarter. Quadrature Capital Ltd purchased a new position in SoundThinking in the first quarter worth $923,000. Premier Fund Managers Ltd acquired a new position in shares of SoundThinking during the fourth quarter worth $252,000. Finally, Vanguard Group Inc. lifted its holdings in shares of SoundThinking by 6.9% during 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 during the last quarter. 60.74% of the stock is currently owned by institutional investors.

SoundThinking Price Performance

Shares of SSTI stock opened at $13.01 on Monday. The business has a fifty day moving average of $13.87 and a 200 day moving average of $14.29. SoundThinking, Inc. has a 1 year low of $11.00 and a 1 year high of $26.92. The firm has a market capitalization of $166.27 million, a price-to-earnings ratio of -40.66 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. SoundThinking had a negative return on equity of 8.44% and a negative net margin of 1.85%. The business had revenue of $26.96 million for the quarter, compared to analyst estimates of $25.60 million. As a group, equities research analysts expect that SoundThinking, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Craig Hallum dropped their target price on SoundThinking from $19.00 to $17.50 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Lake Street Capital assumed coverage on SoundThinking in a research note on Friday, May 24th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of SoundThinking in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.13.

Insider Buying and Selling

In other SoundThinking news, CEO Ralph A. Clark sold 5,591 shares of SoundThinking stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 536,373 shares in the company, valued at approximately $7,702,316.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SoundThinking news, CEO Ralph A. Clark sold 5,591 shares of SoundThinking stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total transaction of $80,286.76. Following the completion of the transaction, the chief executive officer now owns 536,373 shares in the company, valued at approximately $7,702,316.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Clark sold 6,479 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total value of $88,373.56. Following the completion of the sale, the chief executive officer now owns 529,894 shares in the company, valued at approximately $7,227,754.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,161 shares of company stock worth $197,976. 7.70% of the stock is owned by company insiders.

SoundThinking 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.