72,010 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by CenterBook Partners LP

CenterBook Partners LP bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 72,010 shares of the company's stock, valued at approximately $1,429,000.

Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after acquiring an additional 830 shares during the last quarter. Sound Income Strategies LLC lifted its stake in SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 1,271 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI in the fourth quarter valued at $40,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of SoundHound AI in the 4th quarter valued at $40,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of SoundHound AI in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 19.28% of the company's stock.

Insider Transactions at SoundHound AI

In related news, CTO Timothy Stonehocker sold 27,714 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $274,368.60. Following the transaction, the chief technology officer now owns 768,867 shares in the company, valued at $7,611,783.30. The trade was a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James Ming Hom sold 28,388 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $281,041.20. Following the sale, the insider now directly owns 689,652 shares of the company's stock, valued at $6,827,554.80. The trade was a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 500,565 shares of company stock worth $4,999,726. Insiders own 12.28% of the company's stock.

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SoundHound AI Stock Up 2.3 %

Shares of NASDAQ:SOUN traded up $0.19 during trading on Tuesday, hitting $8.34. 7,146,324 shares of the company were exchanged, compared to its average volume of 37,877,510. The firm's 50 day moving average price is $9.99 and its 200-day moving average price is $10.86. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month 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. The stock has a market capitalization of $3.33 billion, a P/E ratio of -23.17 and a beta of 2.73.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share (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 company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. On average, research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOUN has been the topic of several research reports. Northland Securities increased 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 report on Tuesday, January 14th. Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. DA Davidson reduced their target price on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Monday. HC Wainwright reiterated a "buy" rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, SoundHound AI currently has an average rating of "Hold" and a consensus target price of $12.43.

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.