173,000 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Acquired by Kieckhefer Group LLC

Kieckhefer Group LLC purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 173,000 shares of the company’s stock, valued at approximately $3,432,000. SoundHound AI comprises approximately 2.1% of Kieckhefer Group LLC’s investment portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SOUN. ST Germain D J Co. Inc. raised its stake in shares of SoundHound AI by 33.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after acquiring an additional 750 shares during the period. Oriental Harbor Investment Fund purchased a new stake in SoundHound AI during the fourth quarter worth about $8,964,000. Stonehearth Capital Management LLC acquired a new stake in shares of SoundHound AI during the fourth quarter worth about $303,000. Silverleafe Capital Partners LLC acquired a new position in shares of SoundHound AI in the fourth quarter valued at approximately $377,000. Finally, Franklin Resources Inc. purchased a new stake in SoundHound AI during the 3rd quarter worth approximately $177,000. 19.28% of the stock is owned by institutional investors and hedge funds.

SoundHound AI Price Performance

Shares of SoundHound AI stock traded down $1.02 on Monday, hitting $13.07. The company had a trading volume of 26,274,596 shares, compared to its average volume of 65,954,758. The business has a 50-day simple moving average of $13.29 and a 200-day simple moving average of $7.84. The company has a market cap of $4.83 billion, a PE ratio of -36.31 and a beta of 2.63. 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 52 week low of $1.62 and a 52 week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced 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. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. During the same period last year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 88.7% compared to the same quarter last year. Research analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on SOUN shares. Barclays restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush upped their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. DA Davidson restated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of SoundHound AI in a research note on Monday. Finally, LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.07.

Insider Activity at SoundHound AI

In related news, Director Lawrence Marcus sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $7.15, for a total transaction of $214,500.00. Following the sale, the director now owns 178,117 shares of the company’s stock, valued at approximately $1,273,536.55. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Keyvan Mohajer sold 465,394 shares of the company’s stock in a transaction on Monday, December 9th. The stock was 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 directly owns 2,299,148 shares of the company’s stock, valued at approximately $34,579,185.92. The trade was a 16.83 % 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 worth $45,391,343 in the last 90 days. 12.28% of the stock is owned by company insiders.

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.