SoundHound AI, Inc. $SOUN Shares Sold by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. cut its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,900 shares of the company’s stock after selling 1,000 shares during the period. M.E. Allison & CO. Inc.’s holdings in SoundHound AI were worth $181,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kozak & Associates Inc. boosted its position in shares of SoundHound AI by 6,249.0% in 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 last quarter. AlphaQuest LLC acquired a new stake in shares of SoundHound AI in the first quarter worth approximately $32,000. Golden State Wealth Management LLC boosted its position in shares of SoundHound AI by 100.0% in 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 last quarter. Quarry LP boosted its position in shares of SoundHound AI by 1,552.7% in 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 last quarter. Finally, Larson Financial Group LLC boosted its position in shares of SoundHound AI by 72.7% in 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 last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SoundHound AI

In other news, CTO Timothy Stonehocker sold 70,524 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $20.00, for a total transaction of $1,410,480.00. Following the transaction, the chief technology officer directly owned 606,525 shares of the company’s stock, valued at approximately $12,130,500. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keyvan Mohajer sold 138,523 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $2,216,368.00. Following the transaction, the chief executive officer directly owned 2,461,267 shares in the company, valued at approximately $39,380,272. The trade was a 5.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 725,541 shares of company stock valued at $12,675,035. 9.17% of the stock is owned by company insiders.

SoundHound AI Stock Down 6.6%

Shares of SOUN stock opened at $17.36 on Monday. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of -27.56 and a beta of 2.60. SoundHound AI, Inc. has a fifty-two week low of $4.74 and a fifty-two week high of $24.98. The firm’s 50 day moving average price is $14.80 and its two-hundred day moving average price is $11.61.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. LADENBURG THALM/SH SH raised shares of SoundHound AI from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $16.00 in a research report on Monday, August 11th. Wedbush reissued an “outperform” rating and issued a $16.00 target price on shares of SoundHound AI in a research report on Thursday, September 11th. Northland Securities raised shares of SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundHound AI in a research report on Saturday, September 27th. Finally, Northland Capmk raised shares of SoundHound AI from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SoundHound AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.36.

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.