Signaturefd LLC Has $120,000 Holdings in SoundHound AI, Inc. $SOUN

Signaturefd LLC increased its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,193 shares of the company’s stock after acquiring an additional 1,594 shares during the period. Signaturefd LLC’s holdings in SoundHound AI were worth $120,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in SoundHound AI during the 1st quarter worth about $2,395,000. Northern Trust Corp boosted its position in shares of SoundHound AI by 2.5% during the first quarter. Northern Trust Corp now owns 2,979,011 shares of the company’s stock worth $24,190,000 after buying an additional 72,766 shares during the period. Carnegie Investment Counsel grew its holdings in shares of SoundHound AI by 8.9% during the first quarter. Carnegie Investment Counsel now owns 1,069,860 shares of the company’s stock worth $8,131,000 after buying an additional 87,810 shares in the last quarter. Liontrust Investment Partners LLP acquired a new stake in SoundHound AI in the 1st quarter valued at approximately $1,639,000. Finally, First Manhattan CO. LLC. acquired a new stake in SoundHound AI in the 1st quarter valued at approximately $985,000. 19.28% of the stock is owned by institutional investors.

SoundHound AI Price Performance

NASDAQ SOUN opened at $17.85 on Friday. The business has a fifty day moving average price of $14.03 and a two-hundred day moving average price of $11.30. The stock has a market capitalization of $7.28 billion, a PE ratio of -28.33 and a beta of 2.60. SoundHound AI, Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $24.98.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SOUN shares. Wedbush reiterated an “outperform” rating and issued a $16.00 price objective on shares of SoundHound AI in a report on Thursday, September 11th. LADENBURG THALM/SH SH raised shares of SoundHound AI from a “neutral” rating to a “buy” rating and raised their target price for the company from $9.00 to $16.00 in a research note on Monday, August 11th. Wall Street Zen lowered shares of SoundHound AI from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Oppenheimer started coverage on shares of SoundHound AI in a research note on Thursday, September 11th. They issued a “market perform” rating for the company. Finally, DA Davidson boosted their price objective on shares of SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SoundHound AI has an average rating of “Moderate Buy” and a consensus price target of $14.36.

Insider Buying and Selling

In related news, COO Michael Zagorsek sold 69,837 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total value of $1,117,392.00. Following the completion of the transaction, the chief operating officer owned 1,860,790 shares of the company’s stock, valued at $29,772,640. This represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Timothy Stonehocker sold 2,247 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $17.90, for a total transaction of $40,221.30. Following the sale, the chief technology officer directly owned 677,049 shares in the company, valued at approximately $12,119,177.10. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 495,196 shares of company stock worth $8,068,135 in the last quarter. Corporate insiders own 9.17% of the company’s stock.

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.