BNP Paribas Financial Markets Acquires Shares of 70,799 SoundHound AI, Inc. (NASDAQ:SOUN)

BNP Paribas Financial Markets acquired a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 70,799 shares of the company’s stock, valued at approximately $1,405,000.

Several other institutional investors have also added to or reduced their stakes in SOUN. Blue Trust Inc. grew its stake in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after buying an additional 830 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of SoundHound AI during the fourth quarter worth $40,000. Golden State Wealth Management LLC bought a new stake in shares of SoundHound AI during the fourth quarter worth $42,000. Finally, BIT Capital GmbH bought a new stake in shares of SoundHound AI during the fourth quarter worth $43,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, Director Diana Sroka sold 3,402 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $34,292.16. Following the sale, the director now owns 138,850 shares of the company’s stock, valued at approximately $1,399,608. This represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Timothy Stonehocker sold 44,157 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $12.00, for a total transaction of $529,884.00. Following the sale, the chief technology officer now directly owns 723,009 shares in the company, valued at $8,676,108. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 548,537 shares of company stock valued at $5,567,760. 12.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on SOUN shares. Wedbush decreased their target price on shares of SoundHound AI from $22.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. DA Davidson reduced their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, HC Wainwright reduced their price objective on shares of SoundHound AI from $26.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.29.

SoundHound AI Stock Performance

Shares of SoundHound AI stock opened at $10.27 on Tuesday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a twelve month low of $3.82 and a twelve month high of $24.98. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -28.53 and a beta of 2.71. The company’s fifty day moving average is $9.10 and its 200 day moving average is $11.61.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $29.13 million for the quarter, compared to analysts’ expectations of $30.38 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business’s quarterly revenue was up 151.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

SoundHound AI 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.