Sanctuary Advisors LLC Purchases 14,642 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Sanctuary Advisors LLC boosted its position in SoundHound AI, Inc. (NASDAQ:SOUN) by 48.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,618 shares of the company’s stock after acquiring an additional 14,642 shares during the period. Sanctuary Advisors LLC’s holdings in SoundHound AI were worth $885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in shares of SoundHound AI in the 4th quarter worth $3,432,000. Charles Schwab Investment Management Inc. boosted its holdings in SoundHound AI by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after buying an additional 189,109 shares during the last quarter. Oriental Harbor Investment Fund bought a new position in SoundHound AI during the fourth quarter worth about $8,964,000. Geode Capital Management LLC grew its position in shares of SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock worth $33,529,000 after buying an additional 602,311 shares during the period. Finally, Wealth Effects LLC bought a new stake in shares of SoundHound AI in the 4th quarter valued at about $357,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SoundHound AI news, VP Majid Emami sold 37,459 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $760,417.70. Following the transaction, the vice president now owns 698,226 shares of the company’s stock, valued at $14,173,987.80. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Ming Hom sold 53,891 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $538,910.00. Following the transaction, the insider now owns 813,193 shares in the company, valued at approximately $8,131,930. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,722,918 shares of company stock worth $44,935,943. Corporate insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SOUN. Northland Securities boosted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. Barclays reissued a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research report on Monday. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Wedbush increased their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.36.

SoundHound AI Trading Down 3.8 %

NASDAQ SOUN opened at $9.21 on Friday. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The stock’s 50 day moving average price is $15.41 and its two-hundred day moving average price is $9.84. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -25.58 and a beta of 2.56.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. As a group, analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal 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.