SG Americas Securities LLC Has $534,000 Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

SG Americas Securities LLC lessened its holdings in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 46.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,580 shares of the company's stock after selling 99,195 shares during the period. SG Americas Securities LLC's holdings in SoundHound AI were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SOUN. Hexagon Capital Partners LLC purchased a new stake in SoundHound AI during the 1st quarter worth $29,000. DecisionPoint Financial LLC acquired a new position in shares of SoundHound AI in the first quarter worth about $40,000. Kings Path Partners LLC purchased a new position in SoundHound AI in the second quarter valued at about $28,000. International Assets Investment Management LLC acquired a new stake in SoundHound AI during the 2nd quarter valued at approximately $31,000. Finally, Amalgamated Bank increased its holdings in SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company's stock worth $39,000 after purchasing an additional 5,099 shares during the last quarter. 19.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Keyvan Mohajer sold 63,544 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the transaction, the chief executive officer now owns 2,299,148 shares of the company's stock, valued at $11,311,808.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Keyvan Mohajer sold 63,544 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the sale, the chief executive officer now directly owns 2,299,148 shares in the company, valued at approximately $11,311,808.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James Ming Hom sold 21,024 shares of SoundHound AI stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $102,597.12. Following the completion of the transaction, the insider now owns 865,965 shares in the company, valued at approximately $4,225,909.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,275 shares of company stock worth $1,606,644 over the last ninety days. Company insiders own 21.30% of the company's stock.

SoundHound AI Stock Performance

Shares of NASDAQ:SOUN traded down $0.06 on Wednesday, hitting $5.25. The company's stock had a trading volume of 18,564,451 shares, compared to its average volume of 34,440,336. SoundHound AI, Inc. has a 12 month low of $1.49 and a 12 month high of $10.25. The stock's 50-day moving average is $4.85 and its two-hundred day moving average is $4.74. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -13.61 and a beta of 2.73.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). The company had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.09 million. SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The firm's quarterly revenue was up 53.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. Equities analysts expect that SoundHound AI, Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Northland Securities raised their price target on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a "market perform" rating in a research report on Friday, August 9th. DA Davidson reissued a "buy" rating and set a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. Cantor Fitzgerald upgraded shares of SoundHound AI from a "neutral" rating to an "overweight" rating and upped their target price for the company from $5.00 to $7.00 in a research note on Friday, August 9th. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, September 18th. Finally, Wedbush reiterated an "outperform" rating and issued a $9.00 target price on shares of SoundHound AI in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.08.

About SoundHound AI

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.