Bleakley Financial Group LLC purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 167,160 shares of the company’s stock, valued at approximately $2,688,000.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of SoundHound AI by 16.4% during the third quarter. Vanguard Group Inc. now owns 43,457,569 shares of the company’s stock worth $698,798,000 after purchasing an additional 6,132,648 shares during the period. HRT Financial LP bought a new position in SoundHound AI during the 2nd quarter worth $11,914,000. Goldman Sachs Group Inc. lifted its holdings in shares of SoundHound AI by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,639,689 shares of the company’s stock worth $21,434,000 after buying an additional 1,085,473 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of SoundHound AI by 91.6% in the second quarter. Bank of New York Mellon Corp now owns 1,762,827 shares of the company’s stock valued at $18,915,000 after acquiring an additional 842,973 shares during the period. Finally, State Street Corp boosted its position in shares of SoundHound AI by 9.1% in the second quarter. State Street Corp now owns 8,476,348 shares of the company’s stock valued at $90,951,000 after acquiring an additional 708,369 shares during the period. Institutional investors own 19.28% of the company’s stock.
SoundHound AI Stock Up 0.1%
NASDAQ:SOUN opened at $7.83 on Tuesday. SoundHound AI, Inc. has a twelve month low of $6.52 and a twelve month high of $22.17. The stock’s 50-day simple moving average is $9.77 and its 200 day simple moving average is $13.08. The firm has a market capitalization of $3.29 billion, a PE ratio of -9.32 and a beta of 2.65.
Analysts Set New Price Targets
Read Our Latest Analysis on SoundHound AI
Insider Activity at SoundHound AI
In other SoundHound AI news, SVP Majid Emami sold 32,741 shares of the business’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $10.66, for a total transaction of $349,019.06. Following the sale, the senior vice president owned 532,845 shares of the company’s stock, valued at approximately $5,680,127.70. The trade was a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nitesh Sharan sold 60,780 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $11.28, for a total transaction of $685,598.40. Following the transaction, the chief financial officer owned 1,705,148 shares of the company’s stock, valued at $19,234,069.44. This trade represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 460,922 shares of company stock worth $5,199,073 in the last ninety days. Insiders own 9.17% of the company’s stock.
SoundHound AI Company Profile
SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.
The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.
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