19,438 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Bought by Creative Planning

Creative Planning purchased a new position in SoundHound AI, Inc. (NASDAQ:SOUN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,438 shares of the company’s stock, valued at approximately $91,000.

A number of other hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its stake in shares of SoundHound AI by 17.3% during the first quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company’s stock valued at $80,000 after buying an additional 2,000 shares during the period. Genesee Capital Advisors LLC lifted its position in shares of SoundHound AI by 11.4% in the 2nd quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock worth $77,000 after purchasing an additional 2,000 shares during the period. Signaturefd LLC boosted its stake in shares of SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after purchasing an additional 2,200 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in SoundHound AI by 24.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after buying an additional 2,320 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in SoundHound AI by 13.7% in the second quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock worth $82,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 19.28% of the company’s stock.

SoundHound AI Trading Down 2.7 %

Shares of SOUN opened at $7.56 on Wednesday. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $10.25. The business’s fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $4.89. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -18.82 and a beta of 2.71.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, CEO Keyvan Mohajer sold 90,641 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $442,328.08. Following the sale, the chief executive officer now owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Keyvan Mohajer sold 90,641 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $442,328.08. Following the completion of the sale, the chief executive officer now owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Nitesh Sharan sold 39,728 shares of the company’s 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 $193,872.64. Following the sale, the chief financial officer now directly owns 1,560,411 shares of the company’s stock, valued at approximately $7,614,805.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,275 shares of company stock worth $1,606,644. 12.28% of the stock is owned by corporate insiders.

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.