Focus Financial Network Inc. Has $289,000 Stock Holdings in SoundHound AI, Inc. $SOUN

Focus Financial Network Inc. decreased its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,894 shares of the company’s stock after selling 4,492 shares during the quarter. Focus Financial Network Inc.’s holdings in SoundHound AI were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new stake in SoundHound AI in the first quarter worth $32,000. Golden State Wealth Management LLC raised its holdings in SoundHound AI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company’s stock worth $34,000 after purchasing an additional 2,115 shares during the period. Quarry LP raised its holdings in SoundHound AI by 1,552.7% in the first quarter. Quarry LP now owns 5,272 shares of the company’s stock worth $43,000 after purchasing an additional 4,953 shares during the period. Larson Financial Group LLC raised its holdings in SoundHound AI by 72.7% in the first quarter. Larson Financial Group LLC now owns 7,027 shares of the company’s stock worth $57,000 after purchasing an additional 2,959 shares during the period. Finally, Harbor Investment Advisory LLC raised its holdings in SoundHound AI by 387.1% in the first quarter. Harbor Investment Advisory LLC now owns 7,550 shares of the company’s stock worth $61,000 after purchasing an additional 6,000 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

Insider Activity

In other news, CTO Timothy Stonehocker sold 2,981 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $9.68, for a total value of $28,856.08. Following the completion of the sale, the chief technology officer owned 716,866 shares of the company’s stock, valued at approximately $6,939,262.88. The trade was a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Majid Emami sold 60,295 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $10.00, for a total value of $602,950.00. Following the completion of the sale, the vice president directly owned 477,657 shares of the company’s stock, valued at approximately $4,776,570. This trade represents a 11.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,076 shares of company stock valued at $659,638. Insiders own 9.17% of the company’s stock.

SoundHound AI Price Performance

NASDAQ:SOUN opened at $16.25 on Monday. The company has a market capitalization of $6.62 billion, a P/E ratio of -25.79 and a beta of 2.58. SoundHound AI, Inc. has a 1 year low of $4.45 and a 1 year high of $24.98. The business has a fifty day simple moving average of $13.03 and a two-hundred day simple moving average of $10.79.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. DA Davidson boosted 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, September 10th. 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. Oppenheimer assumed coverage on SoundHound AI in a research report on Thursday, September 11th. They issued a “market perform” rating for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $12.00 price target on shares of SoundHound AI in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.36.

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.