International Assets Investment Management LLC Acquires 3,852 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

International Assets Investment Management LLC grew its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 34.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,037 shares of the company’s stock after purchasing an additional 3,852 shares during the period. International Assets Investment Management LLC’s holdings in SoundHound AI were worth $122,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in SoundHound AI during the fourth quarter worth about $30,000. BIT Capital GmbH bought a new stake in shares of SoundHound AI during the fourth quarter worth $43,000. Larson Financial Group LLC boosted its holdings in shares of SoundHound AI by 76.9% during the 4th quarter. Larson Financial Group LLC now owns 4,068 shares of the company’s stock valued at $81,000 after acquiring an additional 1,768 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in SoundHound AI in the fourth quarter valued at about $88,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of SoundHound AI by 153.1% during the fourth quarter. Sunbelt Securities Inc. now owns 4,555 shares of the company’s stock worth $90,000 after purchasing an additional 2,755 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

Insider Activity

In other news, Director Diana Sroka sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $9.94, for a total transaction of $27,832.00. Following the transaction, the director now directly owns 153,949 shares of the company’s stock, valued at $1,530,253.06. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keyvan Mohajer sold 254,376 shares of SoundHound AI stock in a transaction on Friday, June 20th. The shares were sold at an average price of $9.36, for a total transaction of $2,380,959.36. Following the completion of the sale, the chief executive officer now directly owns 1,749,790 shares of the company’s stock, valued at approximately $16,378,034.40. The trade was a 12.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 961,289 shares of company stock worth $9,247,847. Company insiders own 9.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SOUN. Piper Sandler initiated coverage on shares of SoundHound AI in a report on Tuesday, May 27th. They set an “overweight” rating and a $12.00 target price on the stock. 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. Wedbush cut their target price on SoundHound AI from $22.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Finally, DA Davidson decreased their price target on SoundHound AI from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.50.

SoundHound AI Price Performance

Shares of SoundHound AI stock opened at $9.83 on Friday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -17.87 and a beta of 2.64. The stock’s 50-day moving average is $9.76 and its 200 day moving average is $11.85. SoundHound AI, Inc. has a one year low of $3.82 and a one year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $29.13 million during the quarter, compared to the consensus estimate of $30.38 million. SoundHound AI had a negative net margin of 184.34% and a negative return on equity of 68.55%. The company’s quarterly revenue was up 151.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

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.