Nisa Investment Advisors LLC Sells 23,503 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Nisa Investment Advisors LLC lowered its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 26.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,608 shares of the company’s stock after selling 23,503 shares during the period. Nisa Investment Advisors LLC’s holdings in SoundHound AI were worth $1,282,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SOUN. NBC Securities Inc. raised its stake in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after buying an additional 3,818 shares in the last quarter. Amalgamated Bank boosted its position in shares of SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after purchasing an additional 5,099 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in SoundHound AI during the 4th quarter worth $40,000. Farther Finance Advisors LLC increased its position in SoundHound AI by 298.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after buying an additional 6,716 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of SoundHound AI in the 2nd quarter valued at approximately $43,000. Institutional investors own 19.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SOUN. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Northland Securities lifted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Wedbush boosted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Barclays reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and four have issued a buy 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 $12.36.

Insider Buying and Selling at SoundHound AI

In related news, COO Michael Zagorsek sold 277,813 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total value of $5,903,526.25. Following the sale, the chief operating officer now directly owns 1,473,322 shares in the company, valued at approximately $31,308,092.50. The trade was a 15.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keyvan Mohajer sold 465,394 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the transaction, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at approximately $34,579,185.92. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock worth $45,391,343 in the last ninety days. 12.28% of the stock is owned by insiders.

SoundHound AI Stock Performance

NASDAQ:SOUN opened at $14.07 on Tuesday. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98. The company has a market cap of $5.20 billion, a P/E ratio of -39.08 and a beta of 2.63. 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’s 50-day moving average price is $15.07 and its 200-day moving average price is $8.64.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share 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 company had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 88.7% compared to the same quarter last year. On average, sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

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.