UNICOM Systems Inc. Buys Shares of 235,000 SoundHound AI, Inc. (NASDAQ:SOUN)

UNICOM Systems Inc. bought a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 235,000 shares of the company's stock, valued at approximately $4,662,000. SoundHound AI comprises approximately 1.1% of UNICOM Systems Inc.'s holdings, making the stock its 15th largest position. UNICOM Systems Inc. owned about 0.06% of SoundHound AI at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Commons Capital LLC increased its stake in shares of SoundHound AI by 2.7% in the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company's stock worth $543,000 after purchasing an additional 723 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in shares of SoundHound AI by 33.2% during the 4th 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 in the last quarter. Choreo LLC lifted its position in shares of SoundHound AI by 7.6% during the 4th quarter. Choreo LLC now owns 14,424 shares of the company's stock valued at $309,000 after buying an additional 1,015 shares in the last quarter. Genesee Capital Advisors LLC grew its stake in shares of SoundHound AI by 6.5% during the 4th quarter. Genesee Capital Advisors LLC now owns 17,168 shares of the company's stock valued at $341,000 after acquiring an additional 1,050 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock worth $26,000 after acquiring an additional 1,271 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors.

SoundHound AI Trading Up 1.6 %

Shares of NASDAQ:SOUN traded up $0.22 during trading on Wednesday, reaching $14.03. The company's stock had a trading volume of 21,640,954 shares, compared to its average volume of 54,788,492. The firm's 50 day simple moving average is $16.59 and its two-hundred day simple moving average is $9.38. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12 month low of $2.08 and a 12 month high of $24.98. The stock has a market capitalization of $5.52 billion, a PE ratio of -38.96 and a beta of 2.56.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its earnings results 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 net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The business's revenue for the quarter was up 88.7% on a year-over-year basis. On average, research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lawrence Marcus sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the completion of the sale, the director now directly owns 108,117 shares of the company's stock, valued at approximately $2,213,154.99. This trade represents a 15.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric R. Ball sold 30,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.03, for a total value of $240,900.00. Following the completion of the transaction, the director now directly owns 110,907 shares in the company, valued at $890,583.21. This trade represents a 21.29 % 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 over the last 90 days. Insiders own 12.28% of the company's stock.

Wall Street Analyst Weigh In

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

SoundHound AI 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.