UNICOM Systems Inc. Purchases New Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

UNICOM Systems Inc. acquired a new position in SoundHound AI, Inc. (NASDAQ:SOUN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 235,000 shares of the company’s stock, valued at approximately $4,662,000. SoundHound AI accounts for approximately 1.1% of UNICOM Systems Inc.’s investment portfolio, making the stock its 15th biggest holding. UNICOM Systems Inc. owned about 0.06% of SoundHound AI at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SOUN. Commons Capital LLC raised its stake in shares of SoundHound AI by 2.7% in the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after purchasing an additional 723 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in shares of SoundHound AI by 33.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after buying an additional 750 shares during the period. Choreo LLC raised its stake in SoundHound AI by 7.6% during the 4th quarter. Choreo LLC now owns 14,424 shares of the company’s stock worth $309,000 after acquiring an additional 1,015 shares during the period. Genesee Capital Advisors LLC grew its position in shares of SoundHound AI by 6.5% during the fourth quarter. Genesee Capital Advisors LLC now owns 17,168 shares of the company’s stock worth $341,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares in the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

SoundHound AI Stock Performance

SOUN stock opened at $15.33 on Tuesday. The company’s 50-day moving average price is $16.49 and its 200 day moving average price is $9.32. SoundHound AI, Inc. has a 52 week low of $2.08 and a 52 week high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter last year, the company earned ($0.09) earnings per share. SoundHound AI’s revenue for the quarter was up 88.7% on a year-over-year basis. On average, equities analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other SoundHound AI news, CTO Timothy Stonehocker sold 34,407 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $698,462.10. Following the transaction, the chief technology officer now directly owns 796,581 shares in the company, valued at $16,170,594.30. This represents a 4.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Marcus sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the sale, the director now owns 178,117 shares in the company, valued at $1,273,536.55. The trade was a 14.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,782,918 shares of company stock worth $45,391,343. 12.28% of the stock is currently owned by company insiders.

SoundHound AI 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.