Vontobel Holding Ltd. Cuts Stock Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Vontobel Holding Ltd. decreased its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,000 shares of the company’s stock after selling 3,700 shares during the period. Vontobel Holding Ltd.’s holdings in SoundHound AI were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC purchased a new stake in shares of SoundHound AI during the 1st quarter valued at $29,000. DecisionPoint Financial LLC purchased a new stake in SoundHound AI in the first quarter valued at about $40,000. Kings Path Partners LLC acquired a new stake in SoundHound AI in the second quarter worth about $28,000. NBC Securities Inc. grew its stake in shares of SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after acquiring an additional 3,818 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of SoundHound AI during the second quarter valued at about $31,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Stock Down 5.5 %

Shares of SOUN opened at $4.98 on Thursday. The stock’s 50-day moving average price is $4.89 and its 200-day moving average price is $4.74. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -13.05 and a beta of 2.73. SoundHound AI, Inc. has a 52 week low of $1.49 and a 52 week high of $10.25.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.09 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The firm’s quarterly revenue was up 53.8% compared to the same quarter last year. As a group, equities analysts anticipate that SoundHound AI, Inc. will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

SOUN has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, September 18th. DA Davidson reissued a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. Wedbush restated an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. Northland Securities boosted their price target on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $5.00 to $7.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.08.

Insider Buying and Selling at SoundHound AI

In other news, CFO Nitesh Sharan sold 39,728 shares of SoundHound AI stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $193,872.64. Following the sale, the chief financial officer now directly owns 1,560,411 shares of the company’s stock, valued at $7,614,805.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Nitesh Sharan sold 39,728 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $193,872.64. Following the completion of the sale, the chief financial officer now owns 1,560,411 shares of the company’s stock, valued at $7,614,805.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keyvan Mohajer sold 63,544 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the sale, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at $11,311,808.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,275 shares of company stock valued at $1,606,644 over the last quarter. 21.30% of the stock is currently owned by insiders.

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.