Stephens Inc. AR Buys New Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Stephens Inc. AR purchased a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 58,905 shares of the company's stock, valued at approximately $1,169,000.

A number of other hedge funds have also recently made changes to their positions in SOUN. Geode Capital Management LLC boosted its stake in shares of SoundHound AI by 9.1% during the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company's stock valued at $33,529,000 after purchasing an additional 602,311 shares in the last quarter. Oriental Harbor Investment Fund bought a new position in shares of SoundHound AI during the fourth quarter worth about $8,964,000. Charles Schwab Investment Management Inc. raised its position in shares of SoundHound AI by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company's stock worth $12,033,000 after acquiring an additional 189,109 shares during the last quarter. Kieckhefer Group LLC bought a new position in shares of SoundHound AI during the fourth quarter worth about $3,432,000. Finally, Truist Financial Corp raised its position in shares of SoundHound AI by 432.9% during the second quarter. Truist Financial Corp now owns 96,729 shares of the company's stock worth $382,000 after acquiring an additional 125,785 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of analyst reports. Northland Securities raised their price objective on SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 14th. 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. HC Wainwright restated a "buy" rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, January 13th. Wedbush lifted their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Finally, LADENBURG THALM/SH SH reiterated a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.36.

Insider Activity

In other news, Director Lawrence Marcus sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $7.15, for a total transaction of $214,500.00. Following the completion of the sale, the director now owns 178,117 shares in the company, valued at $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Keyvan Mohajer sold 465,394 shares of the business's stock in a transaction that occurred 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 owns 2,299,148 shares of the company's stock, valued at approximately $34,579,185.92. This represents 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 worth $45,391,343 over the last quarter. 12.28% of the stock is currently owned by corporate insiders.

SoundHound AI Stock Down 28.1 %

Shares of NASDAQ SOUN traded down $4.28 during midday trading on Friday, hitting $10.97. 176,466,981 shares of the stock traded hands, compared to its average volume of 51,269,032. The company has a market cap of $4.31 billion, a PE ratio of -30.47 and a beta of 2.56. SoundHound AI, Inc. has a one year low of $3.11 and a one year high of $24.98. The business has a 50 day moving average price of $16.62 and a two-hundred day moving average price of $9.56. 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 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.