Capital Advisors Inc. OK Acquires Shares of 12,460 SoundHound AI, Inc. (NASDAQ:SOUN)

Capital Advisors Inc. OK bought a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,460 shares of the company’s stock, valued at approximately $247,000.

Several other hedge funds have also modified their holdings of the stock. State Street Corp grew its position in SoundHound AI by 0.6% in the third quarter. State Street Corp now owns 7,197,414 shares of the company’s stock valued at $33,540,000 after acquiring an additional 42,869 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of SoundHound AI by 9.1% in the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after purchasing an additional 602,311 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock valued at $12,033,000 after purchasing an additional 189,109 shares in the last quarter. Carnegie Investment Counsel increased its stake in SoundHound AI by 9.1% during the 4th quarter. Carnegie Investment Counsel now owns 982,050 shares of the company’s stock worth $19,484,000 after buying an additional 82,300 shares during the period. Finally, Oriental Harbor Investment Fund acquired a new position in SoundHound AI in the 4th quarter worth $8,964,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research note on Monday, January 13th. Wedbush raised their price target 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. Northland Securities lifted their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Barclays reissued a “neutral” rating and issued a $7.00 target price 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.36.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, COO Michael Zagorsek sold 277,813 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.25, for a total value of $5,903,526.25. Following the sale, the chief operating officer now directly owns 1,473,322 shares in the company, valued at approximately $31,308,092.50. This trade represents a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lawrence Marcus sold 30,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00. Following the transaction, the director now directly owns 178,117 shares of the company’s stock, valued at approximately $1,273,536.55. This trade represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,782,918 shares of company stock worth $45,391,343 over the last ninety days. Company insiders own 12.28% of the company’s stock.

SoundHound AI Stock Up 1.2 %

SOUN stock opened at $13.97 on Thursday. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of -38.81 and a beta of 2.56. SoundHound AI, Inc. has a 1-year low of $2.08 and a 1-year high of $24.98. The firm has a fifty day moving average price of $16.66 and a two-hundred day moving average price of $9.41. 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 announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 88.7% compared to the same quarter last year. Research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current year.

SoundHound AI Company 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.