173,000 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by Kieckhefer Group LLC

Kieckhefer Group LLC acquired a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 173,000 shares of the company's stock, valued at approximately $3,432,000. SoundHound AI makes up about 2.1% of Kieckhefer Group LLC's portfolio, making the stock its 14th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Carnegie Investment Counsel acquired a new stake in shares of SoundHound AI during the third quarter worth about $4,193,000. Geode Capital Management LLC increased its position in SoundHound AI by 9.1% during the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company's stock worth $33,529,000 after buying an additional 602,311 shares during the period. Bank of New York Mellon Corp lifted its stake in SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company's stock valued at $3,940,000 after buying an additional 479,912 shares during the last quarter. Oriental Harbor Investment Fund acquired a new stake in shares of SoundHound AI in the fourth quarter valued at approximately $8,964,000. Finally, Shellback Capital LP purchased a new position in shares of SoundHound AI during the second quarter worth approximately $1,196,000. Institutional investors and hedge funds own 19.28% of the company's stock.

SoundHound AI Price Performance

Shares of NASDAQ SOUN traded down $1.27 during midday trading on Monday, hitting $12.82. The company had a trading volume of 49,943,458 shares, compared to its average volume of 69,708,766. 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 business has a 50-day simple moving average of $13.29 and a two-hundred day simple moving average of $7.84. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of -35.61 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million for the quarter, compared to analysts' expectations of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The company's revenue was up 88.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on SOUN. LADENBURG THALM/SH SH reiterated a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush increased their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Barclays reissued a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. DA Davidson reaffirmed a "buy" rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Finally, HC Wainwright reiterated a "buy" rating and set a $26.00 price target on shares of SoundHound AI in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.07.

Insider Buying and Selling

In related news, Director Lawrence Marcus sold 30,000 shares of SoundHound AI stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $7.15, for a total transaction of $214,500.00. Following the completion of the sale, the director now owns 178,117 shares in the company, valued at approximately $1,273,536.55. This trade represents a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Keyvan Mohajer sold 465,394 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the completion of the transaction, the chief executive officer now owns 2,299,148 shares in the company, valued at approximately $34,579,185.92. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock worth $45,391,343 in the last three months. Corporate insiders own 12.28% of the company's stock.

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.