Signaturefd LLC boosted its stake in SoundHound AI, Inc. (NASDAQ:SOUN – Free Report) by 19.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,255 shares of the company’s stock after buying an additional 2,000 shares during the period. Signaturefd LLC’s holdings in SoundHound AI were worth $57,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its holdings in shares of SoundHound AI by 17.3% in the first quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company’s stock valued at $80,000 after acquiring an additional 2,000 shares in the last quarter. Genesee Capital Advisors LLC boosted its stake in SoundHound AI by 11.4% during the 2nd quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock valued at $77,000 after purchasing an additional 2,000 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of SoundHound AI by 24.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock valued at $46,000 after purchasing an additional 2,320 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of SoundHound AI by 13.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock worth $82,000 after buying an additional 2,500 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of SoundHound AI by 16.5% in the first quarter. Principal Financial Group Inc. now owns 18,560 shares of the company’s stock valued at $109,000 after buying an additional 2,629 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on SOUN shares. Northland Securities boosted their price target on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. DA Davidson reissued a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a research note on Monday, September 30th. Cantor Fitzgerald upgraded shares of SoundHound AI from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, September 18th. Finally, Wedbush restated an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.08.
SoundHound AI Stock Down 1.8 %
Shares of NASDAQ:SOUN opened at $6.01 on Wednesday. The company has a market cap of $1.98 billion, a P/E ratio of -15.82 and a beta of 2.73. The company’s fifty day moving average is $4.94 and its two-hundred day moving average is $4.77. SoundHound AI, Inc. has a 12-month low of $1.51 and a 12-month high of $10.25.
SoundHound AI (NASDAQ:SOUN – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The business had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $13.09 million. During the same period in the prior year, the company posted ($0.10) earnings per share. The firm’s revenue was up 53.8% on a year-over-year basis. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.36 earnings per share for the current year.
Insider Activity at SoundHound AI
In other SoundHound AI news, CEO Keyvan Mohajer sold 90,641 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $442,328.08. Following the completion of the sale, the chief executive officer now owns 2,362,692 shares in the company, valued at $11,529,936.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SoundHound AI news, CEO Keyvan Mohajer sold 90,641 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $442,328.08. Following the transaction, the chief executive officer now directly owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence Marcus sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the sale, the director now directly owns 74,038 shares of the company’s stock, valued at $371,670.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,275 shares of company stock valued at $1,606,644. Corporate insiders own 21.30% of the company’s stock.
SoundHound AI Company Profile
SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.
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