SoundHound AI, Inc. (NASDAQ:SOUN) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 11.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,000 shares of the company’s stock after acquiring an additional 1,887 shares during the period. Oppenheimer & Co. Inc.’s holdings in SoundHound AI were worth $89,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SOUN. Janney Montgomery Scott LLC acquired a new position in shares of SoundHound AI in the first quarter worth about $109,000. Vanguard Group Inc. raised its position in shares of SoundHound AI by 16.1% during the 1st quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock worth $94,655,000 after purchasing an additional 2,226,471 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of SoundHound AI by 124.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,112 shares of the company’s stock worth $431,000 after purchasing an additional 40,495 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of SoundHound AI during the 1st quarter worth about $162,000. Finally, Janus Henderson Group PLC raised its position in shares of SoundHound AI by 563.0% during the 1st quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock worth $2,843,000 after purchasing an additional 409,917 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Stock Up 18.2 %

Shares of NASDAQ SOUN opened at $8.25 on Friday. SoundHound AI, Inc. has a 12-month low of $1.62 and a 12-month high of $10.25. The stock has a market cap of $3.05 billion, a PE ratio of -22.92 and a beta of 2.71. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $5.51 and a 200 day moving average of $5.03.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 88.7% on a year-over-year basis. As a group, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SOUN shares. DA Davidson restated a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright upped their price target on shares of SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays restated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, Northland Securities upped their price target on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.64.

Insider Activity

In other news, CTO Timothy Stonehocker sold 20,337 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $99,244.56. Following the completion of the sale, the chief technology officer now owns 1,039,194 shares of the company’s stock, valued at $5,071,266.72. This represents a 1.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James Ming Hom sold 21,024 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $102,597.12. Following the completion of the sale, the insider now directly owns 865,965 shares of the company’s stock, valued at approximately $4,225,909.20. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 277,275 shares of company stock valued at $1,355,644 in the last 90 days. Company 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.