International Assets Investment Management LLC lessened its position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 86.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,185 shares of the company's stock after selling 68,967 shares during the period. International Assets Investment Management LLC's holdings in SoundHound AI were worth $225,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. raised its holdings in SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock worth $35,000 after purchasing an additional 3,818 shares during the last quarter. Amalgamated Bank grew its stake in shares of SoundHound AI by 108.0% in the 2nd 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. Farther Finance Advisors LLC raised its stake in SoundHound AI by 298.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company's stock worth $42,000 after buying an additional 6,716 shares during the period. Sei Investments Co. bought a new position in SoundHound AI in the second quarter worth approximately $43,000. Finally, Newbridge Financial Services Group Inc. grew its stake in SoundHound AI by 24.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company's stock valued at $46,000 after acquiring an additional 2,320 shares during the period. 19.28% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SOUN. LADENBURG THALM/SH SH reaffirmed a "neutral" rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush upped 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. Barclays reiterated a "neutral" rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. DA Davidson restated a "buy" rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Finally, Northland Securities upped their price target on SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a report on Tuesday. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.36.
Get Our Latest Research Report on SoundHound AI
Insiders Place Their Bets
In other news, VP Majid Emami sold 37,459 shares of SoundHound AI stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $760,417.70. Following the completion of the transaction, the vice president now owns 698,226 shares in the company, valued at $14,173,987.80. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keyvan Mohajer sold 156,288 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the completion of the sale, the chief executive officer now directly owns 2,021,666 shares in the company, valued at approximately $40,837,653.20. This trade represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,782,918 shares of company stock valued at $45,391,343 over the last ninety days. 12.28% of the stock is currently owned by insiders.
SoundHound AI Stock Performance
SOUN stock traded down $0.03 during midday trading on Tuesday, hitting $12.79. The company's stock had a trading volume of 65,787,659 shares, compared to its average volume of 69,371,266. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $24.98. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -35.53 and a beta of 2.63. The stock's 50-day moving average price is $13.59 and its 200 day moving average price is $7.97. 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 (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. The firm had revenue of $25.10 million for the quarter, compared to analysts' expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company's quarterly revenue was up 88.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. On average, equities analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.
SoundHound AI Company Profile
(
Free Report)
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.
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