SoundHound AI, Inc. $SOUN Shares Bought by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC grew its holdings in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 16.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,657 shares of the company’s stock after purchasing an additional 4,696 shares during the period. Clear Creek Financial Management LLC’s holdings in SoundHound AI were worth $361,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SOUN. AlphaQuest LLC acquired a new position in SoundHound AI during the first quarter worth about $32,000. Golden State Wealth Management LLC grew its holdings in SoundHound AI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company’s stock worth $34,000 after acquiring an additional 2,115 shares during the period. Kozak & Associates Inc. grew its holdings in SoundHound AI by 6,249.0% during the second quarter. Kozak & Associates Inc. now owns 3,238 shares of the company’s stock worth $35,000 after acquiring an additional 3,187 shares during the period. Quarry LP grew its holdings in SoundHound AI by 1,552.7% during the first quarter. Quarry LP now owns 5,272 shares of the company’s stock worth $43,000 after acquiring an additional 4,953 shares during the period. Finally, Larson Financial Group LLC grew its holdings in SoundHound AI by 72.7% during the first quarter. Larson Financial Group LLC now owns 7,027 shares of the company’s stock worth $57,000 after acquiring an additional 2,959 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SOUN has been the topic of a number of research analyst reports. Northland Securities raised SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 target price on the stock in a report on Friday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of SoundHound AI in a report on Thursday, September 11th. DA Davidson lifted their target price on SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Northland Capmk raised SoundHound AI from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Finally, LADENBURG THALM/SH SH raised SoundHound AI from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $16.00 in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.36.

SoundHound AI Trading Down 6.6%

Shares of SOUN opened at $17.36 on Friday. SoundHound AI, Inc. has a 1-year low of $4.74 and a 1-year high of $24.98. The stock has a market capitalization of $7.08 billion, a P/E ratio of -27.56 and a beta of 2.60. The business’s 50-day moving average price is $14.80 and its 200 day moving average price is $11.59.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The business had revenue of $42.68 million for the quarter, compared to analyst estimates of $32.88 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The company’s revenue was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

In other SoundHound AI news, VP Majid Emami sold 41,167 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $20.00, for a total transaction of $823,340.00. Following the completion of the sale, the vice president directly owned 608,186 shares in the company, valued at approximately $12,163,720. This trade represents a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Zagorsek sold 69,837 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $1,117,392.00. Following the sale, the chief operating officer owned 1,860,790 shares of the company’s stock, valued at $29,772,640. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 725,541 shares of company stock worth $12,675,035. Corporate insiders own 9.17% of the company’s stock.

About SoundHound AI

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.