EP Wealth Advisors LLC Acquires 2,689 Shares of SoundHound AI, Inc. $SOUN

EP Wealth Advisors LLC raised its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 25.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,394 shares of the company’s stock after purchasing an additional 2,689 shares during the quarter. EP Wealth Advisors LLC’s holdings in SoundHound AI were worth $109,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in SoundHound AI in the 1st quarter valued at $2,395,000. Northern Trust Corp raised its position in SoundHound AI by 2.5% in the 1st quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock valued at $24,190,000 after purchasing an additional 72,766 shares during the last quarter. Carnegie Investment Counsel raised its position in SoundHound AI by 8.9% in the 1st quarter. Carnegie Investment Counsel now owns 1,069,860 shares of the company’s stock valued at $8,131,000 after purchasing an additional 87,810 shares during the last quarter. Liontrust Investment Partners LLP bought a new position in SoundHound AI in the 1st quarter valued at $1,639,000. Finally, Thoroughbred Financial Services LLC raised its position in SoundHound AI by 38.4% in the 1st quarter. Thoroughbred Financial Services LLC now owns 113,475 shares of the company’s stock valued at $921,000 after purchasing an additional 31,500 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

Insiders Place Their Bets

In other SoundHound AI news, CEO Keyvan Mohajer sold 254,376 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $9.36, for a total value of $2,380,959.36. Following the completion of the sale, the chief executive officer directly owned 1,749,790 shares in the company, valued at $16,378,034.40. This represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diana Sroka sold 2,800 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $9.94, for a total value of $27,832.00. Following the completion of the sale, the director owned 153,949 shares of the company’s stock, valued at $1,530,253.06. This trade represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 780,965 shares of company stock valued at $7,350,999 in the last ninety days. 9.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SOUN shares. DA Davidson lifted their price objective on SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Securities upgraded SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price objective for the company in a research report on Friday, August 8th. Northland Capmk upgraded SoundHound AI from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Wedbush boosted their target price on SoundHound AI from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Piper Sandler restated a “neutral” rating and set a $12.00 target price on shares of SoundHound AI in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.36.

SoundHound AI Trading Down 5.4%

NASDAQ SOUN opened at $14.05 on Thursday. The stock has a 50-day simple moving average of $12.60 and a 200 day simple moving average of $10.52. The company has a market capitalization of $5.73 billion, a PE ratio of -22.30 and a beta of 2.58. SoundHound AI, Inc. has a 12 month low of $4.45 and a 12 month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The company had revenue of $42.68 million during the quarter, compared to the consensus estimate of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The company’s revenue for the quarter was up 216.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) EPS. SoundHound AI has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal 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.