UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 393,858 shares of the company's stock after selling 39,989 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of SoundHound AI worth $1,835,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kings Path Partners LLC bought a new position in shares of SoundHound AI during the second quarter valued at about $28,000. NBC Securities Inc. boosted its holdings in SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock valued at $35,000 after acquiring an additional 3,818 shares during the period. International Assets Investment Management LLC bought a new position in SoundHound AI during the 2nd quarter worth approximately $31,000. Farther Finance Advisors LLC increased its stake in SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company's stock worth $42,000 after purchasing an additional 6,716 shares during the period. Finally, Amalgamated Bank lifted its position 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. 19.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SOUN shares. DA Davidson restated a "buy" rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Barclays reissued a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. LADENBURG THALM/SH SH reaffirmed a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush increased their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a report on Monday. Finally, HC Wainwright boosted their price target on SoundHound AI from $7.00 to $8.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SoundHound AI presently has a consensus rating of "Moderate Buy" and an average target price of $9.50.

Insider Buying and Selling

In related news, Director Eric R. Ball sold 30,000 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.03, for a total transaction of $240,900.00. Following the sale, the director now owns 110,907 shares of the company's stock, valued at $890,583.21. The trade was a 21.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Keyvan Mohajer sold 90,641 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $442,328.08. Following the completion of the sale, the chief executive officer now owns 2,362,692 shares in the company, valued at approximately $11,529,936.96. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,035,416 shares of company stock valued at $26,334,544 over the last ninety days. Company insiders own 12.28% of the company's stock.

SoundHound AI Trading Up 16.4 %

Shares of SOUN traded up $2.78 during trading hours on Monday, reaching $19.69. 176,543,847 shares of the company traded hands, compared to its average volume of 39,036,742. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $19.97. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The company's fifty day moving average price is $7.48 and its two-hundred day moving average price is $5.69. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of -52.39 and a beta of 3.03.

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

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.