Stifel Financial Corp Has $694,000 Stock Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Stifel Financial Corp increased its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 122.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,970 shares of the company’s stock after buying an additional 81,990 shares during the period. Stifel Financial Corp’s holdings in SoundHound AI were worth $694,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SOUN. Bank of New York Mellon Corp raised its stake in shares of SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock worth $3,940,000 after purchasing an additional 479,912 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of SoundHound AI by 5.1% in the 2nd quarter. Harbour Investments Inc. now owns 59,746 shares of the company’s stock worth $236,000 after buying an additional 2,923 shares during the last quarter. Principal Financial Group Inc. grew its stake in SoundHound AI by 106.6% in the 2nd quarter. Principal Financial Group Inc. now owns 38,340 shares of the company’s stock valued at $151,000 after purchasing an additional 19,780 shares during the period. Signaturefd LLC grew its position in SoundHound AI by 27.3% during the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after buying an additional 2,200 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in SoundHound AI in the second quarter valued at about $31,000. 19.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SOUN. Barclays reiterated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright upped their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a report on Monday. Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, DA Davidson reiterated a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, SoundHound AI has an average rating of “Moderate Buy” and a consensus target price of $12.07.

Insiders Place Their Bets

In other SoundHound AI news, insider James Ming Hom sold 58,382 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.35, for a total transaction of $1,071,309.70. Following the completion of the sale, the insider now directly owns 754,811 shares in the company, valued at approximately $13,850,781.85. The trade was a 7.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Marcus sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $7.15, for a total value of $214,500.00. Following the completion of the transaction, the director now directly owns 178,117 shares in the company, valued at $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,258,242 shares of company stock valued at $34,752,649. 12.28% of the stock is currently owned by corporate insiders.

SoundHound AI Price Performance

Shares of SOUN stock opened at $20.24 on Thursday. The firm has a market cap of $7.48 billion, a P/E ratio of -56.22 and a beta of 3.03. The business’s 50 day moving average price is $9.91 and its 200-day moving average price is $6.54. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $24.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The firm’s quarterly revenue was up 88.7% compared to the same quarter last year. On average, equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

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.