Farther Finance Advisors LLC Increases Holdings in SoundHound AI, Inc. $SOUN

Farther Finance Advisors LLC raised its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 39.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,830 shares of the company’s stock after acquiring an additional 2,757 shares during the period. Farther Finance Advisors LLC’s holdings in SoundHound AI were worth $105,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kozak & Associates Inc. raised its holdings in SoundHound AI by 6,249.0% in the 2nd quarter. Kozak & Associates Inc. now owns 3,238 shares of the company’s stock valued at $35,000 after acquiring an additional 3,187 shares during the last quarter. AlphaQuest LLC acquired a new position in SoundHound AI in the 1st quarter valued at $32,000. Golden State Wealth Management LLC raised its holdings in SoundHound AI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company’s stock valued at $34,000 after acquiring an additional 2,115 shares during the last quarter. Quarry LP raised its holdings in SoundHound AI by 1,552.7% in the 1st quarter. Quarry LP now owns 5,272 shares of the company’s stock valued at $43,000 after acquiring an additional 4,953 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in SoundHound AI by 72.7% in the 1st quarter. Larson Financial Group LLC now owns 7,027 shares of the company’s stock valued at $57,000 after acquiring an additional 2,959 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Price Performance

NASDAQ:SOUN opened at $17.85 on Friday. The firm has a 50-day moving average of $14.03 and a two-hundred day moving average of $11.29. The stock has a market cap of $7.28 billion, a P/E ratio of -28.33 and a beta of 2.60. SoundHound AI, Inc. has a 1-year low of $4.56 and a 1-year high of $24.98.

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

Insider Buying and Selling

In other SoundHound AI news, CFO Nitesh Sharan sold 126,596 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $16.58, for a total value of $2,098,961.68. Following the completion of the transaction, the chief financial officer directly owned 1,796,304 shares of the company’s stock, valued at $29,782,720.32. This represents a 6.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James Ming Hom sold 42,119 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $673,904.00. Following the completion of the transaction, the insider directly owned 845,441 shares of the company’s stock, valued at approximately $13,527,056. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 495,196 shares of company stock worth $8,068,135 over the last quarter. Company insiders own 9.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SOUN shares. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of SoundHound AI in a report on Wednesday, September 17th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a report on Saturday, September 27th. 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 report on Friday, August 8th. DA Davidson upped their price objective on SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, LADENBURG THALM/SH SH upgraded SoundHound AI from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $16.00 in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.36.

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.