Bank of Montreal Can Sells 18,219 Shares of SoundHound AI, Inc. $SOUN

Bank of Montreal Can decreased its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 34.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,149 shares of the company’s stock after selling 18,219 shares during the quarter. Bank of Montreal Can’s holdings in SoundHound AI were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC bought a new position in shares of SoundHound AI in the 1st quarter worth approximately $32,000. Kozak & Associates Inc. increased its holdings in 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 buying an additional 3,187 shares during the last quarter. Quarry LP increased its holdings in 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 buying an additional 4,953 shares during the last quarter. Larson Financial Group LLC raised its position 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 acquiring an additional 2,959 shares during the period. Finally, Silver Oak Securities Incorporated purchased a new position in shares of SoundHound AI during the 2nd quarter worth $76,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of SoundHound AI in a research note on Tuesday, October 14th. Piper Sandler boosted their price target on SoundHound AI from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Northland Securities raised SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price objective on the stock in a research note on Friday, August 8th. DA Davidson reaffirmed a “buy” rating and set a $17.00 price objective on shares of SoundHound AI in a research report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $16.00 target price on shares of SoundHound AI in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.42.

Insider Buying and Selling

In other SoundHound AI news, CEO Keyvan Mohajer sold 118,654 shares of SoundHound AI stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total value of $2,373,080.00. Following the sale, the chief executive officer directly owned 2,342,613 shares in the company, valued at approximately $46,852,260. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Zagorsek sold 69,837 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $1,117,392.00. Following the transaction, the chief operating officer directly owned 1,860,790 shares of the company’s stock, valued at $29,772,640. This trade represents a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 787,260 shares of company stock worth $13,973,056 in the last 90 days. 9.17% of the stock is owned by company insiders.

SoundHound AI Trading Up 0.9%

Shares of SOUN opened at $11.53 on Wednesday. The business’s 50 day moving average is $16.50 and its 200 day moving average is $13.17. SoundHound AI, Inc. has a 12-month low of $6.04 and a 12-month high of $24.98. The company has a market capitalization of $4.70 billion, a PE ratio of -13.73 and a beta of 2.60.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. The business had revenue of $42.05 million during the quarter, compared to the consensus estimate of $40.48 million. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The firm’s revenue for the quarter was up 67.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. SoundHound AI has set its FY 2025 guidance at EPS. Equities research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

About SoundHound AI

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.