31,164 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Acquired by Tyler Stone Wealth Management

Tyler Stone Wealth Management purchased a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 31,164 shares of the company's stock, valued at approximately $618,000.

A number of other hedge funds also recently made changes to their positions in the business. Commons Capital LLC grew its holdings in SoundHound AI by 2.7% during the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company's stock valued at $543,000 after buying an additional 723 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in SoundHound AI by 33.2% during 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 period. Keynote Financial Services LLC grew its position in SoundHound AI by 4.7% during the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company's stock worth $329,000 after buying an additional 752 shares in the last quarter. Blue Trust Inc. increased its stake in SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after acquiring an additional 830 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of SoundHound AI by 13.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 8,317 shares of the company's stock valued at $165,000 after acquiring an additional 1,000 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Keyvan Mohajer sold 138,895 shares of SoundHound AI stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the sale, the chief executive officer now directly owns 1,764,166 shares in the company, valued at $17,782,793.28. The trade was a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Ming Hom sold 28,388 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $281,041.20. Following the completion of the sale, the insider now directly owns 689,652 shares in the company, valued at approximately $6,827,554.80. The trade was a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,565 shares of company stock valued at $4,999,726. Corporate insiders own 12.28% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several brokerages recently issued reports on SOUN. 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 research report on Monday, December 16th. Northland Securities boosted their target price 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. DA Davidson increased their price target on shares of SoundHound AI from $9.50 to $13.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a report on Monday, February 24th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, SoundHound AI has an average rating of "Hold" and an average price target of $12.86.

SoundHound AI Trading Down 4.3 %

NASDAQ:SOUN traded down $0.38 during mid-day trading on Friday, reaching $8.50. 14,885,639 shares of the company's stock traded hands, compared to its average volume of 38,164,303. The company has a 50 day moving average price of $11.79 and a 200-day moving average price of $10.57. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -23.61 and a beta of 2.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.58). The business had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. On average, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

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.