Ameritas Investment Partners Inc. Buys 4,652 Shares of SoundHound AI, Inc. $SOUN

Ameritas Investment Partners Inc. grew its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 14.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,411 shares of the company’s stock after acquiring an additional 4,652 shares during the period. Ameritas Investment Partners Inc.’s holdings in SoundHound AI were worth $401,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in SoundHound AI by 4.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,073 shares of the company’s stock valued at $248,000 after purchasing an additional 880 shares during the last quarter. Apexium Financial LP raised its stake in shares of SoundHound AI by 2.8% in the second quarter. Apexium Financial LP now owns 36,698 shares of the company’s stock valued at $394,000 after buying an additional 1,000 shares during the period. Belpointe Asset Management LLC lifted its position in shares of SoundHound AI by 9.6% during the 2nd quarter. Belpointe Asset Management LLC now owns 11,430 shares of the company’s stock valued at $123,000 after buying an additional 1,000 shares during the last quarter. Huntington National Bank lifted its position in shares of SoundHound AI by 48.8% during the 2nd quarter. Huntington National Bank now owns 3,050 shares of the company’s stock valued at $33,000 after buying an additional 1,000 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of SoundHound AI by 3.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 32,759 shares of the company’s stock worth $266,000 after acquiring an additional 1,198 shares during the period. Hedge funds and other institutional investors own 19.28% of the company’s stock.

SoundHound AI Stock Performance

Shares of SOUN stock opened at $12.08 on Friday. The company has a market capitalization of $5.07 billion, a PE ratio of -14.37 and a beta of 2.60. SoundHound AI, Inc. has a 52-week low of $6.52 and a 52-week high of $24.98. The business’s fifty day moving average is $16.00 and its 200 day moving average is $13.26.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, November 6th. The company reported ($0.03) EPS 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 analysts’ expectations 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 was up 67.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at SoundHound AI

In other news, CTO Timothy Stonehocker sold 70,524 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $1,410,480.00. Following the sale, the chief technology officer owned 606,525 shares in the company, valued at approximately $12,130,500. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael Zagorsek sold 69,837 shares of SoundHound AI stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $1,117,392.00. Following the sale, the chief operating officer directly owned 1,860,790 shares of the company’s stock, valued at $29,772,640. This represents a 3.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 787,260 shares of company stock worth $13,973,056. Company insiders own 9.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SOUN shares. Wedbush restated an “outperform” rating and issued a $16.00 price objective on shares of SoundHound AI in a research note on Thursday, September 11th. Oppenheimer assumed coverage on shares of SoundHound AI in a research report on Thursday, September 11th. They set a “market perform” rating for the company. DA Davidson reissued a “buy” rating and issued a $17.00 price target on shares of SoundHound AI in a research report on Tuesday, November 18th. HC Wainwright raised their price objective on shares of SoundHound AI from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SoundHound AI in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and an average target price of $17.42.

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.