D.A. Davidson & CO. Sells 4,651 Shares of SoundHound AI, Inc. $SOUN

D.A. Davidson & CO. decreased its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 22.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,051 shares of the company’s stock after selling 4,651 shares during the period. D.A. Davidson & CO.’s holdings in SoundHound AI were worth $172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC bought a new stake in shares of SoundHound AI during the first quarter valued at approximately $32,000. Kozak & Associates Inc. increased its position in shares of SoundHound AI by 6,249.0% during the second 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 in the last quarter. Quarry LP increased its position in shares of SoundHound AI by 1,552.7% during the first quarter. Quarry LP now owns 5,272 shares of the company’s stock valued at $43,000 after acquiring an additional 4,953 shares in the last quarter. Larson Financial Group LLC increased its position in shares of SoundHound AI by 72.7% during the first 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 in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of SoundHound AI during the first quarter valued at approximately $70,000. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Price Performance

Shares of SoundHound AI stock opened at $17.62 on Friday. The company’s fifty day simple moving average is $16.37 and its 200-day simple moving average is $12.69. The stock has a market capitalization of $7.18 billion, a PE ratio of -27.97 and a beta of 2.60. SoundHound AI, Inc. has a 1-year low of $4.97 and a 1-year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its earnings results 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). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The firm had revenue of $42.68 million for the quarter, compared to analysts’ expectations of $32.88 million. During the same quarter last year, the firm posted ($0.11) EPS. The firm’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, research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SOUN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SoundHound AI in a research report on Tuesday, October 14th. Oppenheimer began coverage on shares of SoundHound AI in a report on Thursday, September 11th. They issued a “market perform” rating on the stock. Northland Securities upgraded shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 target price on the stock in a report on Friday, August 8th. Wedbush restated an “outperform” rating and issued a $16.00 target price on shares of SoundHound AI in a report on Thursday, September 11th. Finally, Northland Capmk upgraded shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SoundHound AI has an average rating of “Moderate Buy” and an average price target of $15.50.

Insider Activity at SoundHound AI

In related news, CFO Nitesh Sharan sold 126,596 shares of SoundHound AI stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $16.58, for a total transaction of $2,098,961.68. Following the transaction, the chief financial officer owned 1,796,304 shares in the company, valued at approximately $29,782,720.32. The trade was a 6.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Majid Emami sold 42,119 shares of SoundHound AI stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $673,904.00. Following the transaction, the vice president owned 685,538 shares in the company, valued at approximately $10,968,608. This trade represents a 5.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 785,917 shares of company stock worth $13,955,610 in the last 90 days. Company 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.