Charles Schwab Investment Management Inc. Sells 2,455 Shares of SoundThinking, Inc. (NASDAQ:SSTI)

Charles Schwab Investment Management Inc. lowered its position in shares of SoundThinking, Inc. (NASDAQ:SSTI) by 8.6% in the third quarter, HoldingsChannel reports. The fund owned 26,029 shares of the company’s stock after selling 2,455 shares during the period. Charles Schwab Investment Management Inc.’s holdings in SoundThinking were worth $302,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Federated Hermes Inc. boosted its holdings in SoundThinking by 14.4% during the second quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock worth $18,331,000 after purchasing an additional 190,000 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in SoundThinking by 56.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 362,144 shares of the company’s stock worth $4,197,000 after buying an additional 130,913 shares in the last quarter. Pullen Investment Management LLC lifted its position in SoundThinking by 70.0% during the 3rd quarter. Pullen Investment Management LLC now owns 88,152 shares of the company’s stock worth $1,022,000 after buying an additional 36,290 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SoundThinking by 42.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,790 shares of the company’s stock worth $635,000 after buying an additional 16,336 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of SoundThinking by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock valued at $482,000 after acquiring an additional 3,268 shares in the last quarter. 60.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SSTI. Craig Hallum dropped their target price on SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Cantor Fitzgerald raised SoundThinking to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, JMP Securities cut their price objective on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SoundThinking has an average rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Stock Performance

SoundThinking stock opened at $12.29 on Friday. The stock has a 50-day simple moving average of $12.02 and a 200 day simple moving average of $12.86. The stock has a market capitalization of $154.72 million, a P/E ratio of -102.41 and a beta of 1.19. SoundThinking, Inc. has a 52 week low of $9.33 and a 52 week high of $26.92.

SoundThinking (NASDAQ:SSTI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative return on equity of 8.74% and a negative net margin of 1.39%. The business had revenue of $26.25 million for the quarter, compared to the consensus estimate of $26.20 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Research analysts forecast that SoundThinking, Inc. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Alan R. Stewart sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $13.95, for a total transaction of $209,250.00. Following the completion of the sale, the chief financial officer now owns 138,851 shares in the company, valued at approximately $1,936,971.45. This trade represents a 9.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Clark sold 5,933 shares of SoundThinking stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.61, for a total transaction of $68,882.13. Following the sale, the chief executive officer now directly owns 520,774 shares of the company’s stock, valued at $6,046,186.14. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,621 shares of company stock valued at $336,458 over the last ninety days. 9.20% of the stock is currently owned by company insiders.

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.