State Board of Administration of Florida Retirement System purchased a new stake in shares of Shotspotter Inc (NASDAQ:SSTI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,510 shares of the company’s stock, valued at approximately $215,000.
A number of other hedge funds have also added to or reduced their stakes in SSTI. Northern Trust Corp acquired a new stake in Shotspotter during the 1st quarter valued at approximately $204,000. UBS Group AG lifted its stake in Shotspotter by 65.7% during the 1st quarter. UBS Group AG now owns 18,222 shares of the company’s stock valued at $483,000 after acquiring an additional 7,222 shares during the period. Millennium Management LLC acquired a new stake in Shotspotter during the 1st quarter valued at approximately $678,000. Taylor Wealth Management Partners lifted its stake in Shotspotter by 35.1% during the 2nd quarter. Taylor Wealth Management Partners now owns 123,650 shares of the company’s stock valued at $4,690,000 after acquiring an additional 32,145 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in Shotspotter during the 2nd quarter valued at approximately $4,373,000. 58.25% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on SSTI shares. Imperial Capital set a $50.00 price objective on shares of Shotspotter and gave the company a “buy” rating in a research note on Monday, August 6th. Roth Capital boosted their target price on shares of Shotspotter to $60.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. BidaskClub cut shares of Shotspotter from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. JMP Securities boosted their target price on shares of Shotspotter from $50.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Lake Street Capital set a $55.00 target price on shares of Shotspotter and gave the company a “buy” rating in a research note on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $46.43.
Shotspotter (NASDAQ:SSTI) last posted its earnings results on Tuesday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.09). Shotspotter had a negative net margin of 17.52% and a negative return on equity of 37.42%. The firm had revenue of $9.21 million during the quarter, compared to analyst estimates of $8.99 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was up 34.5% on a year-over-year basis. Analysts forecast that Shotspotter Inc will post -0.23 EPS for the current fiscal year.
In related news, major shareholder Gary M. Lauder sold 27,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $59.34, for a total value of $1,602,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph O. Hawkins sold 1,911 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $29.31, for a total transaction of $56,011.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,911 shares of company stock valued at $5,288,111. Company insiders own 36.10% of the company’s stock.
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ShotSpotter, Inc provides software-as-a-service based gunshot detection solutions for law enforcement officials and security personnel in the United States, South Africa, and internationally. The company's solutions include ShotSpotter Flex, an outdoor public safety solution for cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and SST SecureCampus that helps the law enforcement and security personnel serving universities, colleges, and other educational institutions to mitigate risk and enhance security by notifying authorities and first responders of an active-shooter.
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