HBK Sorce Advisory LLC Purchases 3,746 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

HBK Sorce Advisory LLC grew its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 34.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,575 shares of the company’s stock after buying an additional 3,746 shares during the quarter. HBK Sorce Advisory LLC’s holdings in SoundHound AI were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SOUN. Sigma Planning Corp grew its stake in SoundHound AI by 79.7% during the third quarter. Sigma Planning Corp now owns 21,640 shares of the company’s stock worth $101,000 after buying an additional 9,600 shares during the last quarter. Harbour Investments Inc. grew its stake in SoundHound AI by 4.7% during the third quarter. Harbour Investments Inc. now owns 62,534 shares of the company’s stock worth $291,000 after buying an additional 2,788 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of SoundHound AI by 230.9% during the third quarter. Victory Capital Management Inc. now owns 120,812 shares of the company’s stock worth $563,000 after purchasing an additional 84,301 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of SoundHound AI by 11.0% during the third quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after purchasing an additional 1,887 shares in the last quarter. Finally, Briaud Financial Planning Inc acquired a new position in shares of SoundHound AI during the third quarter worth approximately $92,000. 19.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. DA Davidson increased their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, March 3rd. Wedbush increased their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Northland Securities increased their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.86.

Insider Transactions at SoundHound AI

In other news, insider James Ming Hom sold 58,382 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.35, for a total transaction of $1,071,309.70. Following the completion of the sale, the insider now owns 754,811 shares of the company’s stock, valued at $13,850,781.85. This represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Marcus sold 20,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the sale, the director now directly owns 108,117 shares of the company’s stock, valued at $2,213,154.99. This represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 999,777 shares of company stock valued at $20,062,443 over the last quarter. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Stock Up 16.0 %

Shares of NASDAQ:SOUN opened at $10.34 on Friday. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market capitalization of $4.07 billion, a PE ratio of -28.72 and a beta of 2.62. The company has a 50 day moving average price of $12.85 and a two-hundred day moving average price of $10.23.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. Analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

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.