SoundHound AI, Inc. (NASDAQ:SOUN) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC lessened its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,385 shares of the company’s stock after selling 6,427 shares during the period. Global Retirement Partners LLC’s holdings in SoundHound AI were worth $1,099,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SOUN. Geode Capital Management LLC increased its holdings in shares of SoundHound AI by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after acquiring an additional 602,311 shares during the period. Oriental Harbor Investment Fund acquired a new stake in shares of SoundHound AI in the 4th quarter worth about $8,964,000. UNICOM Systems Inc. acquired a new stake in shares of SoundHound AI in the 4th quarter worth about $4,662,000. Charles Schwab Investment Management Inc. increased its holdings in shares of SoundHound AI by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after acquiring an additional 189,109 shares during the period. Finally, Kieckhefer Group LLC acquired a new stake in shares of SoundHound AI in the 4th quarter worth about $3,432,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Insider Activity

In other news, VP Majid Emami sold 94,067 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $9.05, for a total transaction of $851,306.35. Following the completion of the transaction, the vice president now owns 735,685 shares in the company, valued at approximately $6,657,949.25. This trade represents a 11.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lawrence Marcus sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $20.47, for a total transaction of $409,400.00. Following the transaction, the director now owns 108,117 shares of the company’s stock, valued at approximately $2,213,154.99. This trade represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,752,918 shares of company stock worth $45,176,843. Corporate insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wedbush increased their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research report on Monday, January 13th. Northland Securities increased their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, Barclays reiterated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.36.

SoundHound AI Stock Performance

NASDAQ:SOUN opened at $10.31 on Friday. SoundHound AI, Inc. has a twelve month low of $3.50 and a twelve month high of $24.98. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $16.24 and a 200-day moving average of $9.71. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -28.64 and a beta of 2.56.

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.