10,988 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by Advisory Services Network LLC

Advisory Services Network LLC acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,988 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SOUN. Blue Trust Inc. raised its stake in SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 1,271 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI during the 4th quarter worth approximately $40,000. Compagnie Lombard Odier SCmA bought a new position in SoundHound AI in the fourth quarter valued at approximately $40,000. Finally, Golden State Wealth Management LLC acquired a new position in SoundHound AI during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Trading Up 1.0 %

NASDAQ:SOUN opened at $7.84 on Friday. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The firm’s fifty day moving average is $9.41 and its 200-day moving average is $10.91. The firm has a market cap of $3.13 billion, a P/E ratio of -21.76 and a beta of 2.73.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. DA Davidson reduced their target price on SoundHound AI from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Northland Securities lifted their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.43.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, Director Diana Sroka sold 3,402 shares of SoundHound AI stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $34,292.16. Following the transaction, the director now directly owns 138,850 shares of the company’s stock, valued at $1,399,608. The trade was a 2.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Ming Hom sold 51,196 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.25, for a total transaction of $524,759.00. Following the completion of the sale, the insider now owns 638,456 shares of the company’s stock, valued at approximately $6,544,174. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 500,565 shares of company stock worth $4,999,726. Insiders own 12.28% of the company’s stock.

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.