Wells Fargo & Company MN Raises Position in SoundThinking, Inc. (NASDAQ:SSTI)

Wells Fargo & Company MN grew its position in shares of SoundThinking, Inc. (NASDAQ:SSTI) by 681.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,468 shares of the company’s stock after acquiring an additional 39,651 shares during the period. Wells Fargo & Company MN owned about 0.36% of SoundThinking worth $594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SSTI. R Squared Ltd bought a new stake in shares of SoundThinking during the fourth quarter valued at approximately $70,000. Diversified Investment Strategies LLC bought a new stake in shares of SoundThinking during the 4th quarter valued at $131,000. WINTON GROUP Ltd bought a new stake in shares of SoundThinking during the 4th quarter valued at $228,000. Barclays PLC grew its position in shares of SoundThinking by 245.5% in the 3rd quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after buying an additional 17,591 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of SoundThinking in the 4th quarter worth about $329,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SSTI. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of SoundThinking in a research note on Wednesday, February 26th. Craig Hallum upgraded SoundThinking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Stock Performance

NASDAQ:SSTI opened at $15.78 on Friday. The firm has a 50-day simple moving average of $16.30 and a two-hundred day simple moving average of $13.95. The firm has a market cap of $199.87 million, a P/E ratio of -131.49 and a beta of 1.29. SoundThinking, Inc. has a fifty-two week low of $9.33 and a fifty-two week high of $19.43.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.30). The firm had revenue of $23.41 million for the quarter, compared to the consensus estimate of $26.65 million. SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. On average, equities research analysts predict that SoundThinking, Inc. will post -0.42 EPS for the current year.

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.