19,000 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by Silverleafe Capital Partners LLC

Silverleafe Capital Partners LLC acquired a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,000 shares of the company’s stock, valued at approximately $377,000.

Several other hedge funds have also made changes to their positions in SOUN. NBC Securities Inc. grew its position in SoundHound AI by 97.8% in 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings in SoundHound AI by 298.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after buying an additional 6,716 shares during the last quarter. Amalgamated Bank raised its holdings in SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after purchasing an additional 5,099 shares in the last quarter. TriaGen Wealth Management LLC acquired a new position in SoundHound AI during the third quarter worth approximately $47,000. Finally, Sei Investments Co. purchased a new stake in SoundHound AI in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SOUN shares. Barclays restated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright lifted their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Wedbush increased their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, DA Davidson reissued a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.07.

Insider Activity

In other news, CEO Keyvan Mohajer sold 465,394 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the completion of the transaction, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. This represents a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Majid Emami sold 94,067 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.05, for a total transaction of $851,306.35. Following the completion of the sale, the vice president now directly owns 735,685 shares in the company, valued at $6,657,949.25. This represents a 11.34 % decrease in their ownership of the stock. 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.

SoundHound AI Price Performance

NASDAQ:SOUN traded down $0.95 during trading hours on Monday, reaching $19.67. 63,910,878 shares of the company traded hands, compared to its average volume of 66,862,773. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The stock has a market cap of $7.27 billion, a P/E ratio of -54.64 and a beta of 3.03. The firm’s 50-day moving average is $12.20 and its 200-day moving average is $7.40. 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 (NASDAQ:SOUN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm’s quarterly revenue was up 88.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. Equities research analysts expect 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.