SoundHound AI, Inc. (NASDAQ:SOUN) Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 286,817 shares of the company’s stock after acquiring an additional 15,672 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of SoundHound AI worth $5,690,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new position in shares of SoundHound AI during the 4th quarter worth about $3,432,000. Oriental Harbor Investment Fund bought a new position in SoundHound AI during the fourth quarter worth about $8,964,000. Geode Capital Management LLC grew its stake in shares of SoundHound AI by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after purchasing an additional 602,311 shares during the period. Wealth Effects LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at $357,000. Finally, Franklin Resources Inc. acquired a new stake in shares of SoundHound AI during the 3rd quarter worth about $177,000. Institutional investors own 19.28% of the company’s stock.

Insider Buying and Selling at SoundHound AI

In related news, Director Diana Sroka sold 3,402 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $34,292.16. Following the completion of the sale, the director now owns 138,850 shares of the company’s stock, valued at $1,399,608. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Timothy Stonehocker sold 27,714 shares of SoundHound AI stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $274,368.60. Following the completion of the sale, the chief technology officer now owns 768,867 shares in the company, valued at approximately $7,611,783.30. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 500,565 shares of company stock valued at $4,999,726 in the last 90 days. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Stock Up 1.0 %

Shares of NASDAQ:SOUN opened at $7.84 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. The business’s 50 day simple moving average is $9.41 and its two-hundred day simple moving average is $10.87. The firm has a market cap of $3.13 billion, a P/E ratio of -21.76 and a beta of 2.73.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The business had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. Northland Securities raised their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Finally, DA Davidson reduced their target price on SoundHound AI from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SoundHound AI currently has an average rating of “Hold” and a consensus target price of $12.43.

About SoundHound AI

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.