SoundHound AI, Inc. (NASDAQ:SOUN) Shares Sold by Nebula Research & Development LLC

Nebula Research & Development LLC lessened its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,860 shares of the company’s stock after selling 3,486 shares during the period. Nebula Research & Development LLC’s holdings in SoundHound AI were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 1,271 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of SoundHound AI in the fourth quarter valued at approximately $40,000. Compagnie Lombard Odier SCmA purchased a new position in shares of SoundHound AI in the fourth quarter valued at approximately $40,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of SoundHound AI in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Stock Performance

Shares of SoundHound AI stock opened at $9.74 on Tuesday. The firm’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $11.13. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -27.06 and a beta of 2.73. SoundHound AI, Inc. has a 12 month low of $3.82 and a 12 month high of $24.98. 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 announced its quarterly earnings data 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). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. As a group, equities analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. DA Davidson lowered their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Northland Securities lifted their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.43.

Insiders Place Their Bets

In other news, CEO Keyvan Mohajer sold 138,895 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the completion of the sale, the chief executive officer now directly owns 1,764,166 shares of the company’s stock, valued at $17,782,793.28. The trade was a 7.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Ming Hom sold 28,388 shares of SoundHound AI stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,041.20. Following the transaction, the insider now owns 689,652 shares in the company, valued at $6,827,554.80. The trade was a 3.95 % decrease in their position. The disclosure for this sale can be found here. Over 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 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.