95,847 Shares in SoundHound AI, Inc. $SOUN Bought by Havemeyer Place LP

Havemeyer Place LP bought a new position in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, HoldingsChannel reports. The fund bought 95,847 shares of the company’s stock, valued at approximately $956,000.

Several other large investors have also added to or reduced their stakes in the stock. 111 Capital bought a new stake in SoundHound AI in the fourth quarter valued at $139,000. WCG Wealth Advisors LLC bought a new stake in SoundHound AI in the fourth quarter valued at $550,000. CIBC Asset Management Inc bought a new stake in SoundHound AI in the fourth quarter valued at $140,000. Intech Investment Management LLC boosted its holdings in SoundHound AI by 15.9% in the fourth quarter. Intech Investment Management LLC now owns 141,422 shares of the company’s stock valued at $1,410,000 after acquiring an additional 19,445 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in SoundHound AI by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company’s stock valued at $91,543,000 after acquiring an additional 273,097 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Stock Performance

Shares of SOUN stock opened at $7.39 on Monday. SoundHound AI, Inc. has a 12 month low of $5.83 and a 12 month high of $22.17. The stock has a market cap of $3.20 billion, a PE ratio of -15.72 and a beta of 2.56. The company’s fifty day moving average price is $7.84 and its 200-day moving average price is $9.07.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SoundHound AI had a negative net margin of 91.84% and a negative return on equity of 40.15%. The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $42.56 million. During the same quarter last year, the firm posted ($0.06) EPS. The business’s quarterly revenue was up 51.7% on a year-over-year basis. On average, sell-side analysts forecast that SoundHound AI, Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SOUN. DA Davidson reiterated a “buy” rating and issued a $14.00 price target on shares of SoundHound AI in a report on Wednesday, April 22nd. HC Wainwright cut their price target on shares of SoundHound AI from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Zacks Research upgraded shares of SoundHound AI from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. LADENBURG THALM/SH SH upgraded shares of SoundHound AI to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $9.00 price target (down from $11.00) on shares of SoundHound AI in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SoundHound AI has a consensus rating of “Moderate Buy” and an average target price of $14.93.

Insider Activity

In other news, CFO Nitesh Sharan sold 44,027 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.79, for a total transaction of $298,943.33. Following the sale, the chief financial officer owned 1,661,121 shares in the company, valued at approximately $11,279,011.59. The trade was a 2.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Majid Emami sold 31,019 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.79, for a total transaction of $210,619.01. Following the sale, the senior vice president owned 501,826 shares in the company, valued at approximately $3,407,398.54. This trade represents a 5.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 307,973 shares of company stock worth $2,091,110. 8.84% of the stock is currently owned by corporate insiders.

SoundHound AI Profile

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.