AlphaCentric Advisors LLC Trims Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

AlphaCentric Advisors LLC trimmed its stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 56.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,000 shares of the company's stock after selling 70,000 shares during the quarter. SoundHound AI accounts for 1.1% of AlphaCentric Advisors LLC's portfolio, making the stock its 25th largest position. AlphaCentric Advisors LLC's holdings in SoundHound AI were worth $1,091,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Commons Capital LLC lifted its stake in shares of SoundHound AI by 2.7% in the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company's stock worth $543,000 after buying an additional 723 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of SoundHound AI by 33.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock valued at $60,000 after buying an additional 750 shares during the last quarter. Blue Trust Inc. lifted its holdings in 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 buying an additional 830 shares in the last quarter. Choreo LLC boosted its stake in shares of SoundHound AI by 7.6% in the 4th quarter. Choreo LLC now owns 14,424 shares of the company's stock valued at $309,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Genesee Capital Advisors LLC grew its stake in shares of SoundHound AI by 6.5% during the fourth quarter. Genesee Capital Advisors LLC now owns 17,168 shares of the company's stock worth $341,000 after purchasing an additional 1,050 shares during the period. Institutional investors and hedge funds own 19.28% of the company's stock.

Insider Buying and Selling at SoundHound AI

In other news, Director Lawrence Marcus sold 20,000 shares of the firm's stock in a transaction on 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 $2,213,154.99. This trade represents a 15.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 transaction, the chief executive officer now directly owns 2,021,666 shares of the company's stock, valued at approximately $40,837,653.20. This represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,752,918 shares of company stock worth $45,176,843. Insiders own 12.28% of the company's stock.

Wall Street Analysts Forecast Growth

SOUN has been the topic of several research reports. Northland Securities boosted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. LADENBURG THALM/SH SH restated a "neutral" rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Barclays restated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush increased 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. Finally, HC Wainwright reaffirmed a "buy" rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $12.36.

SoundHound AI Stock Down 1.4 %

Shares of NASDAQ SOUN traded down $0.16 during midday trading on Thursday, hitting $10.91. 37,161,744 shares of the stock traded hands, compared to its average volume of 57,831,527. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The business has a 50 day moving average price of $16.43 and a two-hundred day moving average price of $9.66. The company has a market cap of $4.29 billion, a PE ratio of -30.31 and a beta of 2.56. SoundHound AI, Inc. has a one year low of $3.46 and a one year high of $24.98.

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.