Capital Fund Management S.A. Purchases Shares of 811,094 SoundHound AI, Inc. (NASDAQ:SOUN)

Capital Fund Management S.A. purchased a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 811,094 shares of the company's stock, valued at approximately $16,092,000. Capital Fund Management S.A. owned approximately 0.21% of SoundHound AI as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of SoundHound AI by 43.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 151,826 shares of the company's stock worth $708,000 after acquiring an additional 45,750 shares during the last quarter. FMR LLC boosted its holdings in SoundHound AI by 112.8% during the 3rd quarter. FMR LLC now owns 49,038 shares of the company's stock valued at $229,000 after acquiring an additional 25,989 shares during the period. Captrust Financial Advisors increased its stake in SoundHound AI by 73.4% in the 3rd quarter. Captrust Financial Advisors now owns 69,887 shares of the company's stock worth $326,000 after purchasing an additional 29,578 shares during the period. Integrated Wealth Concepts LLC lifted its position in SoundHound AI by 13.0% in the third quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company's stock valued at $80,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in SoundHound AI by 122.4% during the 3rd quarter. Stifel Financial Corp now owns 148,970 shares of the company's stock valued at $694,000 after buying an additional 81,990 shares during the period. 19.28% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Northland Securities raised their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 14th. DA Davidson dropped their price target on SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday. 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. Cantor Fitzgerald raised SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Finally, Wedbush lifted their target price 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, SoundHound AI has a consensus rating of "Hold" and a consensus target price of $12.43.

SoundHound AI Price Performance

Shares of SOUN stock traded up $0.31 during mid-day trading on Tuesday, hitting $8.46. The company had a trading volume of 8,138,156 shares, compared to its average volume of 37,882,604. The company has a market capitalization of $3.38 billion, a P/E ratio of -23.50 and a beta of 2.73. The stock's 50 day moving average price is $9.99 and its 200-day moving average price is $10.86. 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 current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results 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 return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. Equities research analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Diana Sroka sold 3,402 shares of SoundHound AI stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $34,292.16. Following the completion of the sale, the director now owns 138,850 shares in the company, valued at $1,399,608. This trade represents a 2.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Ming Hom sold 51,196 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.25, for a total transaction of $524,759.00. Following the transaction, the insider now directly owns 638,456 shares in the company, valued at approximately $6,544,174. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 500,565 shares of company stock worth $4,999,726 over the last three months. 12.28% of the stock is owned by insiders.

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.