SoundHound AI, Inc. (NASDAQ:SOUN) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC raised its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 2,542.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,321 shares of the company’s stock after buying an additional 1,271 shares during the quarter. Sound Income Strategies LLC’s holdings in SoundHound AI were worth $26,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in SoundHound AI in the 4th quarter valued at $40,000. ST Germain D J Co. Inc. increased its stake in SoundHound AI by 33.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after buying an additional 750 shares during the period. Avior Wealth Management LLC acquired a new position in SoundHound AI in the 4th quarter valued at $64,000. NBC Securities Inc. increased its stake in SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after buying an additional 3,818 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after buying an additional 6,716 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 156,288 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the transaction, the chief executive officer now directly owns 2,021,666 shares in the company, valued at approximately $40,837,653.20. This represents a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Zagorsek sold 277,813 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the transaction, the chief operating officer now directly owns 1,473,322 shares of the company’s stock, valued at approximately $31,308,092.50. This represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,782,918 shares of company stock worth $45,391,343. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Price Performance

SoundHound AI stock opened at $15.84 on Monday. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $24.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $14.91 and its 200 day simple moving average is $8.58. The firm has a market capitalization of $5.86 billion, a PE ratio of -44.00 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business’s revenue for the quarter was up 88.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. On average, equities research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Northland Securities boosted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Wedbush boosted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. DA Davidson restated a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a research report on Monday, September 30th. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, January 13th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, SoundHound AI has an average rating of “Moderate Buy” and a consensus price target of $12.36.

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.