Good Life Advisors LLC Sells 29,521 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Good Life Advisors LLC cut its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 35.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,354 shares of the company's stock after selling 29,521 shares during the quarter. Good Life Advisors LLC's holdings in SoundHound AI were worth $1,059,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of SoundHound AI by 197.6% during 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 boosted its stake in SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock valued at $26,000 after purchasing an additional 1,271 shares during the period. Future Financial Wealth Managment LLC bought a new stake in SoundHound AI in the 4th quarter valued at $40,000. Compagnie Lombard Odier SCmA bought a new stake in SoundHound AI in the 4th quarter valued at $40,000. Finally, Golden State Wealth Management LLC bought a new stake in SoundHound AI in the 4th quarter valued at $42,000. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SOUN. HC Wainwright restated a "buy" rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, January 13th. Barclays restated a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH restated a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Northland Securities upped their target price on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.36.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN traded down $0.60 during trading on Friday, reaching $10.31. 34,516,849 shares of the company traded hands, compared to its average volume of 47,031,792. The company's 50 day moving average is $16.24 and its two-hundred day moving average is $9.71. The firm has a market capitalization of $4.05 billion, a PE ratio of -28.64 and a beta of 2.56. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98.

Insider Buying and Selling

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.03, for a total value of $240,900.00. Following the completion of the transaction, the director now owns 110,907 shares of the company's stock, valued at $890,583.21. This represents a 21.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Marcus sold 20,000 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the transaction, the director now directly owns 108,117 shares of the company's stock, valued at approximately $2,213,154.99. The trade was a 15.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,752,918 shares of company stock worth $45,176,843 in the last ninety days. 12.28% of the stock is owned by insiders.

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.