Headlands Technologies LLC Has $4.61 Million Stock Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

Headlands Technologies LLC lessened its position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 46.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,246 shares of the company's stock after selling 204,492 shares during the period. Headlands Technologies LLC owned about 0.06% of SoundHound AI worth $4,608,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in SoundHound AI during the 3rd quarter valued at $305,000. Charles Schwab Investment Management Inc. lifted its stake in shares of SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company's stock worth $12,033,000 after buying an additional 189,109 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of SoundHound AI by 43.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 151,826 shares of the company's stock worth $708,000 after buying an additional 45,750 shares during the period. Quantbot Technologies LP acquired a new position in SoundHound AI in the 3rd quarter valued at about $57,000. Finally, FMR LLC raised its holdings in SoundHound AI by 112.8% in 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. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SoundHound AI news, Director Diana Sroka sold 3,402 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $34,292.16. Following the completion of the transaction, the director now owns 138,850 shares of the company's stock, valued at approximately $1,399,608. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keyvan Mohajer sold 118,605 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $1,174,189.50. Following the completion of the sale, the chief executive officer now owns 1,903,061 shares in the company, valued at approximately $18,840,303.90. The trade was a 5.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 500,565 shares of company stock worth $4,999,726 over the last three months. Insiders own 12.28% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wedbush upped their target price on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Northland Securities upped their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a report on Tuesday, January 14th. HC Wainwright reissued a "buy" rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd. DA Davidson upped their price target on shares of SoundHound AI from $9.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, February 28th. 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $12.86.

SoundHound AI Price Performance

Shares of NASDAQ SOUN traded up $0.08 during mid-day trading on Tuesday, reaching $8.20. The company had a trading volume of 19,205,076 shares, compared to its average volume of 38,091,403. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -22.78 and a beta of 2.62. The business's 50-day simple moving average is $11.51 and its 200 day simple moving average is $10.66. SoundHound AI, Inc. has a one year low of $3.50 and a one year high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.69) 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 firm had revenue of $34.54 million during the quarter, compared to the consensus estimate 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.

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.