SoundHound AI, Inc. (NASDAQ:SOUN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 26.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,608 shares of the company's stock after selling 23,503 shares during the period. Nisa Investment Advisors LLC's holdings in SoundHound AI were worth $1,282,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SOUN. Amalgamated Bank increased its stake 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 purchasing an additional 5,099 shares during the last quarter. Hsbc Holdings PLC grew its holdings in SoundHound AI by 928.9% in the 2nd quarter. Hsbc Holdings PLC now owns 155,975 shares of the company's stock valued at $613,000 after buying an additional 140,815 shares during the period. Sei Investments Co. acquired a new position in shares of SoundHound AI during the 2nd quarter valued at about $43,000. Xponance Inc. purchased a new position in shares of SoundHound AI during the 2nd quarter worth about $71,000. Finally, Squarepoint Ops LLC boosted its position in shares of SoundHound AI by 818.0% in the second quarter. Squarepoint Ops LLC now owns 231,168 shares of the company's stock worth $913,000 after acquiring an additional 205,985 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SOUN shares. Northland Securities upped their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 14th. LADENBURG THALM/SH SH reaffirmed a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. DA Davidson reissued a "buy" rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. HC Wainwright restated a "buy" rating and set a $26.00 price target on shares of SoundHound AI in a research note on Monday, January 13th. Finally, Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.36.

SoundHound AI Stock Up 1.1 %

Shares of SOUN stock traded up $0.16 during trading hours on Tuesday, reaching $14.23. The company had a trading volume of 51,184,149 shares, compared to its average volume of 66,512,594. The company has a market capitalization of $5.26 billion, a P/E ratio of -39.53 and a beta of 2.63. 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, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98. The stock's fifty day simple moving average is $15.07 and its 200 day simple moving average is $8.64.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm's quarterly revenue was up 88.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) EPS. As a group, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoundHound AI news, CFO Nitesh Sharan sold 57,761 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $1,172,548.30. Following the completion of the transaction, the chief financial officer now owns 1,502,650 shares in the company, valued at approximately $30,503,795. This represents a 3.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keyvan Mohajer sold 465,394 shares of SoundHound AI stock in a transaction on Monday, December 9th. The shares were sold at an average price of $15.04, for a total value of $6,999,525.76. Following the sale, the chief executive officer now directly owns 2,299,148 shares in the company, valued at $34,579,185.92. The trade was a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,782,918 shares of company stock valued at $45,391,343 in the last ninety days. Corporate insiders own 12.28% of the company's stock.

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.