Captrust Financial Advisors Buys 29,578 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Captrust Financial Advisors boosted its position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 73.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,887 shares of the company's stock after acquiring an additional 29,578 shares during the quarter. Captrust Financial Advisors' holdings in SoundHound AI were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new position in SoundHound AI in the second quarter valued at $28,000. NBC Securities Inc. lifted its holdings in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock valued at $35,000 after buying an additional 3,818 shares during the period. International Assets Investment Management LLC acquired a new position in SoundHound AI in the second quarter valued at $31,000. Farther Finance Advisors LLC lifted its holdings in SoundHound AI by 298.5% in the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company's stock valued at $42,000 after buying an additional 6,716 shares during the period. Finally, Amalgamated Bank lifted its holdings in SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company's stock valued at $39,000 after buying an additional 5,099 shares during the period. 19.28% of the stock is owned by institutional investors.

SoundHound AI Stock Up 23.7 %

SOUN stock traded up $3.24 during trading on Friday, reaching $16.91. The stock had a trading volume of 159,555,444 shares, compared to its average volume of 38,463,582. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $17.29. 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 company's 50 day moving average is $7.48 and its two-hundred day moving average is $5.69. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -46.97 and a beta of 3.03.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results 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 firm had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same period in the prior year, the firm earned ($0.09) EPS. The company's revenue was up 88.7% compared to the same quarter last year. Equities research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

SOUN has been the topic of several research reports. HC Wainwright upped their price objective on shares of SoundHound AI from $7.00 to $8.00 and gave the company a "buy" rating in a report on Thursday, November 14th. LADENBURG THALM/SH SH reiterated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush reiterated an "outperform" rating and set a $9.00 price objective on shares of SoundHound AI in a report on Thursday, September 26th. DA Davidson reiterated a "buy" rating and set a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. Finally, Barclays reiterated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, SoundHound AI has a consensus rating of "Moderate Buy" and an average target price of $7.64.

Insider Activity at SoundHound AI

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.03, for a total value of $240,900.00. Following the sale, the director now directly owns 110,907 shares in the company, valued at $890,583.21. This represents a 21.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keyvan Mohajer sold 368,041 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $15.00, for a total transaction of $5,520,615.00. Following the sale, the chief executive officer now owns 2,299,148 shares in the company, valued at approximately $34,487,220. This trade represents a 13.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,035,416 shares of company stock worth $26,334,544. 12.28% of the stock is owned by corporate 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.