232,349 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Bought by EAM Investors LLC

EAM Investors LLC purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the fourth quarter, HoldingsChannel reports. The fund purchased 232,349 shares of the company’s stock, valued at approximately $4,610,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Regal Investment Advisors LLC acquired a new position in shares of SoundHound AI during the fourth quarter valued at about $394,000. CreativeOne Wealth LLC raised its holdings in SoundHound AI by 3.7% in the 4th quarter. CreativeOne Wealth LLC now owns 29,991 shares of the company’s stock valued at $595,000 after acquiring an additional 1,073 shares in the last quarter. Mariner LLC lifted its position in shares of SoundHound AI by 53.4% in the 4th quarter. Mariner LLC now owns 66,027 shares of the company’s stock worth $1,310,000 after acquiring an additional 22,979 shares during the period. SageView Advisory Group LLC acquired a new stake in shares of SoundHound AI during the 4th quarter worth approximately $311,000. Finally, Summit Investment Advisors Inc. increased its position in shares of SoundHound AI by 13.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 31,561 shares of the company’s stock valued at $626,000 after purchasing an additional 3,756 shares during the period. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SoundHound AI

In other news, CTO Timothy Stonehocker sold 27,714 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $274,368.60. Following the sale, the chief technology officer now owns 768,867 shares in the company, valued at approximately $7,611,783.30. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Majid Emami sold 28,392 shares of SoundHound AI stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,080.80. Following the completion of the transaction, the vice president now directly owns 669,834 shares of the company’s stock, valued at $6,631,356.60. This represents a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 500,565 shares of company stock valued at $4,999,726 in the last three months. Corporate insiders own 12.28% of the company’s stock.

SoundHound AI Stock Up 1.0 %

SOUN opened at $8.23 on Wednesday. SoundHound AI, Inc. has a twelve month low of $3.50 and a twelve month high of $24.98. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of -22.86 and a beta of 2.73. The firm’s 50-day simple moving average is $9.84 and its 200-day simple moving average is $10.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

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

Wall Street Analysts Forecast Growth

SOUN has been the subject of several research reports. Northland Securities raised their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. DA Davidson lowered their target price on shares of SoundHound AI from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.43.

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.